MountainView Financial Solutions, a Situs company and an advisor to the financial services industry, announced its role as the exclusive sale advisor for a pool of 1,667 first- and second-lien performing and non-performing loans with a total balance of $97.4 million. MountainView is accepting indicative bids for the offering until 2:00 p.m. EDT on April 3.
The pool is being segmented into four sub-pools: 1,060 second-lien performing loans with a total balance of $47.9 million; 294 first-lien performing loans with a total balance of $28.4 million; 265 secured, second-lien non-performing loans with a total balance of $15.4 million; and 48 first-lien non-performing loans with a total balance of $5.7 million. Bidders have the flexibility to bid on the entire pool or any of the four sub-pools.
"It's rare to see such a large amount of second-lien performing loans in the market, so we expect a high level of interest in this sub-pool from banks and other frequent buyers of seconds," said Jonas Roth, a Managing Director at MountainView and one of the lead advisors on the sale. "We also expect aggressive competition for the other sub-pools from investors who focus on specific product types. Due to high demand, seasoned residential assets, whether performing or non-performing, are getting bid to record low-level yields."
The seller is an East Coast-based fund.
MountainView Financial Solutions, a leading advisor to the financial services industry, delivers rigorous and objective analysis, data-driven insights and client-centric services that help business leaders Climb Higher by better identifying, quantifying and managing credit and interest rate risk exposure and optimizing balance sheet management. Fueled by deep industry knowledge and unparalleled access to valuable market and industry data, MountainView delivers a more holistic view of risk and opportunity that enables clients to make informed and confident decisions. Specific services the company offers include financial model validations; asset valuations for residential whole loans, consumer loans, residential mortgage servicing rights (MSR) and asset-backed securities; MSR hedge advisory; core deposit analyses; stress testing; and asset sale transaction advisory. Built upon nearly three decades of risk management experience, MountainView currently serves more than 600 active clients in banking, insurance, lending, servicing, secondary markets, and securitization.
Situs is a global provider of strategic business and technology solutions to the real estate industry. Situs has been involved in more than $1 trillion of real estate debt and equity deals across the U.S., Europe, and Asia, and has acquired a number of platforms. In 2012, Situs acquired Deutsche Bank's European Servicing operations and became one of the largest third-party loan servicers in Europe; in 2016, Situs acquired Hatfield & Phillips, the largest non-performing loan and CMBS Special Servicer in Europe; and, in 2017, Situs acquired The Collingwood Group, a Washington, DC advisory firm focused on residential housing finance. Situs is a rated servicer with Moody's, Fitch and Morningstar, has more than $165 billion (€137 billion) of assets under management and is ranked a top 20 commercial loan servicer in multiple categories by the Mortgage Bankers Association. In 2016, Situs received a second consecutive "Advisor of the Year" award from Real Estate Finance & Investment magazine and the "Capital Advisor Firm of the Year" award from Property Investor Europe. In 2017, the firm won the "Industry Contributor of the Year" award from Real Estate Finance & Investment magazine.