Commercial Loan Sales / Residential Loan Pool Sales
Does anyone know anything about the commercial loan sale secondary market? Who are the major players? Who are the primary buyers? Also, what about pooled residential mortgage sales? Is there a market for this right now in the performing space? What is the future outlook?
Thanks.
I used to work for a company that bought pools of loans before the economy came back to this degree.
I'll tell you this: there are MANY players. The big sellers are whichever banks are holding the most underperforming loans that quarter.
One way to see who's selling what is to register for DebtX. They broker quite a few loan portfolio sales. In order to see due dili materials you have to go through a pretty onerous process, but to get the email blasts you can sign up pretty quickly. I've never transacted through them, but have heard good things.
There are a bunch of smaller ones that might be worth checking out as well - loanmls.com is one that comes to mind. The FDIC themselves also run some sales - but again, not for your typical small shop investor.
When you say there are many players, do you mean buyers or sellers?
Is DebtX a trading platform for all loan sale brokers or is it just for DebtX listings?
It sounds like there is mainly a market for non-performing notes right now. What about performing notes?
If I've got a $60MM pool of performing residential notes that I'm trying to sell, where would I have access to quality buyers outside of my current database?
Thanks.
I'm by no means an expert on portfolio-level trading, but I do know that DebtX is a sort of agent between loan portfolio sellers (large and small) and loan portfolio buyers (also large and small). I've been subscribed to their email blasts with what's trading, and it varies pretty widely by size, property type, performing/non-performing, etc.
I recommend you peruse their website and look at some of their current listings to see how similar they are to what you have.
Also check out Mission Capital. They're basically loan sale advisors - not sure what their commission is (or DebtX's, for that matter), but they're good at what they do.
The loan business to me is much more about the buying and selling of the paper than earning interest (as a lender).
After doing quite a bit of research, it seems as if there are only a handful of players in this loan sale brokerage space. DebtX and Mission Capital seem to be the only two major players in this arena along with some smaller groups. Is there just not that much product trading hands or are there a lot of barriers to entry for newcomers?
Thanks again.
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