DebtX, which brokers non-performing loan sales for the government and other sellers, is now charging certain bidders a $500 non-refundable vetting fee. Company CEO Kingsley Greenland told National Mortgage News that only FDIC-insured banks and government sponsored enterprises will be excluded from the charge. A posting on its website says the DebtX market is "limited to sophisticated, qualified investors." Mr. Greenland said the non-performing loan market has grown dramatically in recent years, noting that "We're seeing folks who may not have the required experience" get involved in the bid process. He added that the NPL market is "maturing and evolving" and "we need more research."
Processing Content
