BOSTON-DebtX has signed another five-year agreement with the FDIC to sell assets held in FDIC receiverships.
DebtX routinely sells loans for the U.S. Department of Housing and Urban Development, according to a statement from the company. The firm acts as Specialist for Multifamily and Healthcare loan sales and Single Family Residential loan sales in these transactions. Additionally, DebtX is Financial Advisor on both the United States and European panels of NAMA, Ireland's National Asset Management Agency.
Last year, Globest.com reported that DebtX, on behalf of SEBA Professional Services, took a $1.7 billion portfolio of non-performing residential loans to market under a US Department of Housing and Urban Development defaulted mortgage pool program. This program is known as the Distressed Asset Stabilization program.
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