An article in Bloomberg News today reported that PNC, BB&T and Regions sold over $3 billion in loan assets. “These sales, coupled with Citibank’s multi-billion performing loan sale and other billions of loans being handled by Carlton and various loan sale advisors indicate that over $10 billion in loan sales occurred last month”, according to Carlton Chairman Howard L. Michaels.
Carlton Chairman Howard L. Michaels is quoted in the Bloomberg article indicating and supporting the fact that more and more lenders are now getting comfortable selling into a market where pricing is better and valuations are clearer.
“Moreover, the market is heating up as investors have increased liquidity from third party financing, equity joint ventures with capital partners and their own increase in personal net worth. Most important, investors and sellers are now reaching a consensus on pricing on improved assets, although there is still a large delta on pricing with respect to land assets”, according to Carlton Chairman Howard L. Michaels.
Carlton invites interested parties, on a confidential basis, to submit loan and /or REO tapes for a confidential valuation and loan sale strategy. Carlton also encourages parties to consider moving loan portfolios now on either on an asset-by-asset basis, or in bulk prior to the inevitable year end tsunami of loans which is going to characterize the market in November and December.
If you send us your contemplated inventory today, Carlton will make sure you are in the market by September with a confidential loan sale offering on the Carlton Exchange, whereby you will only sell loan and/or REO assets if you are comfortable with the price you are getting.