Online mortgage auction BigBidder.com is marketing a $0.5 million pool of reperforming residential mortgage loans. The announcement comes after BigBidder.com recently reached $100 million in total notes for auction.
BigBidder.com will be auctioning the mortgage pool starting July 23. Prospective bidders are invited to review the available documents and conduct due diligence on the Web site. The pool is being sold through an online auction set to end Aug. 5.
The pool will be awarded to the highest bidder at the end of the auction’s. This is an online auction with all parties able to monitor the bidding activity in real-time while giving all investors an equal opportunity to participate.