MountainView Capital Holdings in Denver, said one of its investment funds was the winning bidder on a $282 million pool of residential loans auctioned off by the Federal Deposit Insurance Corp.
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The single-family mortgages were culled from the balance sheets of 48 failed banks.
In late July roughly 35% of the portfolio (395 loans) was considered delinquent (60-plus days past due).
Although the company's MountainView Public Private Investment I, LLC won the bid, the FDIC will retain a 60% interest in the portfolio.
The FDIC conducted the sale through a competitive bid last month.
MountainView's partner on the deal was Statebridge Co. LLC, a Denver specialty servicer. Statebridge will service the loans.
