A portfolio of more than $70 million in reperforming residential loans with a five-state concentration is being offered for sale to the highest bidder.
The whole-loan offering is for approximately 309 reperforming first liens that have an aggregate unpaid principal balance of $71 million.
More than three-quarters of the loans have been modified. All of the mortgages have been performing for a weighted average 11.77 months.
Source: Mortgage Daily