Start-up hopes to offer exchange for subprime home loans
* Opens for business on Friday
SAN FRANCISCO, Aug 14 (Reuters) - A public online exchange for subprime home and consumer loans opens for business on Friday, aiming to fill a niche by providing open, centralized bidding for investors in packages of smaller debt.
Start-up DebtMarket hopes to do [...]
Portfolio Sale Updates
On GDNAuto This Week:
3 Additional Buy Offers
Average Pricing: 71 cents on the dollar
3 new portfolios listed
2 transactions in closing
By providing buyers and sellers a central place to do business, GDNAuto is poised to offer aggregate data on loan portfolio sales to participating members
ATTENTION BUYERS AND SELLERS OF RV, MOTORCYCLE AND MARINE NOTES:
Please contact [...]
Three additional subprime portfolios have been listed on GDNAuto this week:
Remaining Balance: $15,000
Seller: Florida Regional Finance Company
APR: 24%
Number of Loans: 4
Seasoning: 11 months
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Remaining Balance: $20,500
Seller: Florida Regional Finance Company
APR: 26%
Number of Loans: 4
Seasoning: 10 months
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Remaining Balance: $19,000
Seller: California Regional Finance Company
APR: 21%
Number of Loans: 2
Seasoning: 7
