WASHINGTON, Sept. 4, 2014 /PRNewswire/ -- DebtX, on behalf of SEBA Professional Services, will sell a $2.3 billion portfolio of non-performing residential loans for the U.S. Department of Housing and Urban Development (HUD).
HUD's Single-Family Loan Sale 2014-2, Part 2 is a national offering of approximately 15,000 loans totaling $2.3 billion in Unpaid Principal Balance (UPB). It will be offered in eight pools, ranging from $94.5 million to $804.5 million, and will bid September 30. The loans are collateralized by properties across the U.S.
Investors can place bids at www.debtx.com, the largest marketplace for loans.
"We are pleased to support HUD on its sixth, multi-billion dollar sale of single-family loans in the past 22 months," said Erhiuvie Abu, President and CEO, SEBA Professional Services, LLC.
Since September 2012, SEBA and DebtX have offered more than 100,000 non-performing, single-family loans through HUD's Distressed Asset Stabilization Program.
"Investor demand for HUD loans remains exceptionally strong, and we expect to see a high level of interest in this portfolio," said DebtX CEO Kingsley Greenland. "DebtX is pleased to support HUD in its efforts to systematically manage its exposure to non-performing residential loans."
Investors can download qualification materials at www.debtx.com. For additional information, please contact Mike Roth, 617.531.3424, [email protected] or email [email protected].
About SEBA
SEBA Professional Services is an 8(a) certified, woman-owned, small disadvantaged business providing management consulting, financial advisory and information technology solutions services. SEBA's range of services includes portfolio management, risk assessments, internal control reviews in accordance with Office of Management and Budget (OMB) guidelines and the Federal Managers' Financial Integrity Act (FMFIA), information assurance, and training. SEBA's offices are located in Washington, DC. For more information, call +1 202.552.7356 or visit www.sebapro.com.
About DebtX
DebtX operates the world's most liquid marketplace for loans. Through its loan sale advisory and valuation and analytics services, DebtX maximizes loan sale proceeds for financial institutions and government agencies. For syndication, agency, and loan sale professionals, DebtX provides a suite of web-based deal management solutions. DebtX is based in Boston, with offices across the U.S. and Europe. Call +1.617.531.3400 or visit www.debtx.com. Follow DebtX on Facebook, Twitter and LinkedIn.
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SOURCE DebtX
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