FDIC, DebtX Reach Five-Year Agreement to Dispose Nonperforming Assets

By Evan Nemeroff

Published January 11, 2013, 11:57 a.m. EST

1 Min Read

DebtX, the largest marketplace for loans, has signed a new five-year agreement with the Federal Deposit Insurance Corp. to sell assets held as receivership in the U.S. government corporation’s portfolio.

Processing Content

Since December 2007, the Boston-based full-service loan sale advisor for commercial, consumer and specialty finance debt has completed more than 60 transactions for the FDIC totaling $4.8 billion.

The FDIC is one of several government agencies that utilize DebtX to dispose assets held in receivership. DebtX also sells loans for the Department of Housing and Urban Development as exclusive transaction specialist for multifamily and healthcare loan sales as well as single-family residential loan sales.

Additionally, DebtX is financial advisor on both the United States and European panels of Ireland’s National Asset Management Agency.

Throughout the disposition process, DebtX’s loan sale team works with financial institution on all aspects of the sale, providing valuation, marketing, due diligence and other support services. In addition, DebtX offers valuation and analytics solutions that enable marketplace participants to understand price and liquidity trends.

Managing Editor

Evan Nemeroff joined SourceMedia in January 2011 as a reporter for Mortgage Servicing News� Managing REO. Topics that he writes about includes REO... Read full bio

For reprint and licensing requests for this article, click here.

MORE FROM NATIONAL MORTGAGE NEWS

Fraud

FBI: Real estate cyberfraud rises with more AI, crypto scams

The industry reported $275 million in losses from internet crimes last year, a 59% annual increase as losses nationwide surpassed $20 billion.

By Andrew Martinez
Reporter

April 10
Home equity loans

HEI customers file new class action against Unison

A Colorado couple filed suit after realizing they might owe as much as $279,000 on a home equity investment contract used to obtain $88,000 in 2018.

By Spencer Lee
Technology Reporter

April 10
Economic indicators

War, oil and inflation: What it means for rates

Economists surveyed by Wolters Kluwer are scaling back rate cut expectations as Iran conflict-driven energy costs push inflation higher, complicating the Fed's path forward.

By Brad Finkelstein
Originations Editor

April 10
Inflation

Energy prices drive up inflation by 0.9% in March

A 21.2% spike in the price of gasoline was the biggest contributor to a 0.9% increase in the Consumer Price Index in March, according to a Friday report from the Bureau of Labor Statistics. The agency said other price increases were largely contained.

By Ebrima Santos Sanneh
Reporter

April 10
Originations

Jumbo lending playbook: automation, overlays and ROI

Jumbo loans demand more scrutiny and documentation, but automation is streamlining the process — and lenders who master the product stand to gain in a moderately bullish market.

By Brad Finkelstein
Originations Editor

April 10
LoanDepot

LoanDepot taps Figure to launch 5-minute loan product

LoanDepot will integrate Figure's proprietary credit and loan underwriting engine into its own proprietary mello technology platform and point of sale system.

By Colin McNamara
Reporter

April 9

Load More