MountainView Capital Group on Monday said it recently brokered the sale of 7,100 nonperforming second liens with an unpaid principal balance of $403 million.
A spokesman for the Denver-based firm told National Mortgage News that the seller was a large bank with international roots. The buyer “was more of a regional player but not a bank,” he said.
The pool includes secured and non-secured loans.
No purchase price was disclosed, but in past industry auctions nonperforming seconds usually sold at huge discounts, sometimes for pennies on the dollar. But in a press statement MountainView said it is seeing a “strengthening demand.”
Jonas Roth, a managing director at the company, said the firm received multiple bids, adding that it is seeing “more non-performing and performing seconds in the marketplace.”
Over the past 12 months MountainView has traded at least 15 second lien pools with an unpaid principal balance of $2 billion.
