MountainView Capital Group , a residential whole loan transaction advisor in Denver, Colorado, announced the closing of a deal involving a portfolio of residential mortgage loans with a total unpaid principal balance of approximately $60 million. The seller was listes as ResCap Liquidating Trust, and Mountainview served as ResCap’s loan sale advisor.
"Given the size and composition of the portfolio, these assets attracted a very diverse group of whole loan buyers," said Jonas Roth, managing director at MountainView and the lead advisor on the sale. "A total of 25 bids were received across the entire portfolio."
The portfolio consisted of performing, re-performing, and non-performing first and second liens.
"The portfolio was representative of what we saw trade throughout 2013. Sales by financial institutions, government-directed sales, and fund-to-fund trades will create the supply in 2014, while hedge funds, investment banks, private-equity funds, and new investors to this space will provide liquidity for both large and small portfolios," Roth added. "Aggressive pricing will continue as buyers continue to compete for performing and non-performing residential assets."