On behalf of commercial banks, insurance companies and mortgage servicers, loan sale advisor DebtX plans to sell $1.1 billion in commercial real estate and residential loans in 10 separate transactions through early December.
The sales include $784 million in CRE loans and $363 million in residential loans, with collateral located across the U.S.
The company said it expects active bidding for both performing and non-performing loans.
“The volume of loan sales reflects the heightened importance among financial institutions of entering 2011 with a stronger balance sheet,” said DebtX CEO Kingsley Greenland.
Investors can review due diligence materials and submit bids at www.debtx.com.