BofA, Citigroup, JPMorgan Seeking Buyers for $4.5 Billion of Loans
Bank of America Corp., Citigroup and JPMorgan Chase & Co. have begun accelerating the sales of $4.5 billion worth of home loans, Bloomberg Business is reporting.
According to Mission Capital Advisors, the loans are made up of various types of troubled debt, including nonperforming loans, home-equity lines of credit and some re-performing mortgages.
“We’re seeing a lot of regional banks pick up loan sales in response to Basel III regulations,” Mission Capital’s managing director Luis Vergara told Bloomberg.
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