DebtX, SEBA Sell Multi-Billion Portfolio for HUD

""DebtX"":https://www.debtx.com, based in Boston, Massachusetts, has partnered with ""SEBA Professional Services"":http://www.sebapro.com to sell a $5 billion portfolio of non-performing residential loans for the ""U.S. Department of Housing and Urban Development (HUD)"":http://portal.hud.gov/hudportal/HUD.

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The loan sale consists of two parts: The first part is a national offering of approximately 24,000, single family loans totaling $4 billion in unpaid principal balance (UPB), which will bid October 30 and December 10, 2013. These loans are secured by properties across the United States.

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The second phase of the sale will consist of a Neighborhood Stabilization Outcomes pool (NSO) offering of approximately 5,000 loans totaling $1 billion in UPB, which will bid December 10, 2013. The NSO pools are secured by properties in Atlanta, Georgia; Baltimore, Maryland; Washington, D.C.; Indianapolis, Indiana; and Las Vegas, Nevada.

Investors can place bids for both pools at debtx.com, the largest marketplace for loans.

""This sale of single family loans is the largest in HUD's history and follows three successful sales by SEBA and DebtX over the past year,"" said Erhiuvie Abu, President and CEO, SEBA Professional Services.

Since September 2012, SEBA and DebtX have offered more than 47,000 non-performing, single-family loans totaling $7 billion in UPB for HUD.

""DebtX is pleased to support HUD's successful initiative to dispose of its non-performing single family loans,"" said Kingsley Greenland, DebtX CEO. ""DebtX again expects very strong investor participation and pricing for these pools of loans.""