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DebtX and SEBA Announce Sale for $1.7B HUD Portfolio

On behalf of ""SEBA Professional Services"":http://www.sebapro.com/index.php, ""DebtX"":https://www.debtx.com/default.asp will sell a $1.7 billion portfolio of non-performing residential loans for HUD, DebtX announced Thursday.


The portfolio, SFLS 2012-3, is made up of loans collateralized by homes across the country. It will be offered in standard national pools, as well as regional pools in support of HUD's Distressed Asset Stabilization Program (DASP). The DASP pools will include loans collateralized by homes in Chicago, Newark, Phoenix, and Tampa.

""SEBA is pleased to support HUD's goal of stabilizing distressed communities and avoiding the unnecessary foreclosures of homes,"" said Erhiuvie Abu, president and CEO of SEBA. ""We anticipate a highly successful sale due to the ongoing interest in the Distressed Asset Stabilization Program.""

""DebtX has seen tremendous investor interest in this HUD loan sale,"" said DebtX CEO Kingsley Greenland. ""There is pent-up demand in the investor community to acquire assets in bulk, and this transaction represents the best opportunity in the past few years to bid and win.""

Sealed bids will be accepted at DebtX's website from 11 a.m. to 1 p.m. (EDT) on Sept. 12. Due diligence materials are available to qualified investors at the website, as well.

Headquartered in Burtonsville, Maryland, SEBA Professional Services is a certified, woman-owned, small disadvantaged business providing management consulting, financial advisory, and information technology solutions services.

DebtX is a full-service loan sale advisor for commercial, consumer, and specialty finance debt.

About Author: Tory Barringer

Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington's student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News' sister publication, MReport, which focuses on mortgage banking news.

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