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Largest HUD Loan Sale to Date Will Take Place in Fourth Quarter
WASHINGTON, Oct. 17, 2013 /PRNewswire/ -- DebtX, on behalf of SEBA Professional Services, will sell a $5 billion portfolio of non-performing residential loans for the U.S. Department of Housing and Urban Development (HUD).
The HUD SFLS 2014-1 loan sale consists of two parts. A national offering of approximately 24,000, single family loans totaling $4 billion in unpaid principal balance (UPB) will bid October 30 and December 10, 2013. The loans are secured by properties across the United States.
A Neighborhood Stabilization Outcomes Pool (NSO) offering of approximately 5,000 loans totaling $1 billion in UPB will bid December 10, 2013. The NSO pools are secured by properties in Atlanta, Baltimore/ DC, California, Indianapolis and Las Vegas.
Investors can place bids for both pools at www.debtx.com, the largest marketplace for loans.
"This sale of single family loans is the largest in HUD's history and follows three successful sales by SEBA and DebtX over the past year," said Erhiuvie Abu, President and CEO, SEBA Professional Services, LLC.
Since September 2012, SEBA and DebtX have offered for HUD more than 47,000 non-performing, single family loans totaling $7 billion in UPB.
"DebtX is pleased to support HUD's successful initiative to dispose of its non-performing single family loans," said DebtX CEO Kingsley Greenland. "DebtX again expects very strong investor participation and pricing for these pools of loans."
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.
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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