There is chatter in the industry that Barclays is putting together a fund to invest in distressed mortgages. Could it be that over the next year the nonperforming loan market might finally pick up some real steam? One other player in the distressed loan (and real estate) market is Mountain Real Estate Capital, which has committed $1 billion to such purchases. MREC was founded almost two decades ago by Peter Fioretti, a former investment banker at E.F. Hutton. The firm boasts 14 former GMAC/ResCap REO officials. Meanwhile, we hear that another securitization of NPLs is a foot, involving a medium sized player…
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