The nonperforming residential mortgage market is hot, and may be getting a little too hot, with bidding extremely competitive, loan sales advisors say.

"It's a pretty overheated market," William F. Looney III, president of U.S. loan sales at Debt Exchange Inc., told attendees at SourceMedia's Distressed Residential Mortgage Summit in New York Thursday.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.