You’ve all heard the news by now.

Wells Fargo is selling a $416 million portfolio of nonperforming loans, while Citigroup has sold $400 million of NPLs to a hedge fund. Fannie Mae has just done a bulk sale of real estate owned involving 260 homes, while the Wall Street Journal reports the Federal Deposit Insurance Corp. has just sold a share in a large pool of nonperforming loans to Lennar Corp., the homebuilder.

The distressed asset market is about to boom in the next couple of years. As if the residential mortgage market hasn’t been a thoroughgoing disaster, the commercial mortgage market will obligingly create a nice tail for this kind of business as it crashes and burns as well!

That’s why National Mortgage News Conferences is offering Buying & Selling Distressed Mortgage Portfolios - Commercial & Residential to be held June 10 and 11 at the Roosevelt Hotel in New York City. Due diligence, how to find the correct value of a distressed asset, and where and when to sell it off are the key topics at the show. I hope to see you there!

Sincerely,

Mark Fogarty,
Conference Chair,
Editor, NATIONAL MORTGAGE NEWS