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""US Debt Ventures"":http://www.usdebtventures.com, a Florida-based private equity firm, recently purchased a pool of non-performing mortgages valued at $500 million from a large financial institution.
Consisting of approximately 7,000 first, second, and third liens from across the nation, the purchase is part of the[IMAGE] [COLUMN_BREAK]
company's strategy to acquire and work out large portfolios of distressed mortgages.
""US Debt Ventures' primary focus is to optimize returns for investors while helping borrowers to clean up their negative credit situation through realistic yet creative solutions,"" said Todd Billings, the company's CEO.
He continued, ""We have taken on the role of a dedicated and stable mortgage solutions provider in today's volatile real estate market. As a private equity firm with strong financial backing, we can fill the capital void needed in today's distressed marketplace.""
According to Jamie Zambrana, US Debt Ventures' director of acquisitions and analytics, the purchase is a precursor for more bulk buys in 2011 and 2012.
""Our in-house analyses and underwriting capabilities as an experienced distressed debt buyer will lead us to successfully deploying several hundred million dollars in the next few years,"" Zambrana said.
