DebtX sold more than $292 million in nonperforming residential real estate loans.  The portfolio will be offered in 19 separate pools and will bid on Sept. 18.

The loans were originally made by a commercial bank as portfolio loans, mostly in 2006. The portfolio has the following concentrations: $100 million in Florida, $40 million in California, $26 million in Massachusetts, $16 million in Arizona and $16 million in Nevada.

The loans are 95% adjustable rate, and 95% of the properties are owner-occupied, according to a release from the firm. 

“DebtX is expecting strong interest from local investors because of the manageable size and geographic concentration of the portfolio,” said DebtX CEO Kingsley Greenland. “By selling distressed debt at DebtX’s liquid, online marketplace, a growing number of financial institutions are strengthening their balance sheets and improving overall performance.”

Qualified investors can register to view and bid on the portfolio at www.debtx.com or call 617.531.3400 for more information.

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