Home Loans
Loans
A row has broken out over attempts by a state-owned bank to sell a large portfolio of mortgage loans to 'vulture funds'.
UK-based development finance provider Maslow Capital has acquired a £100 million (€112.7 million) performing loan portfolio, representing the firm’s first participation in the secondary debt market.
‘Mega-deals’ in the Spanish market during 2017 could encourage other banks to put portfolios on the block, says the investment banking firm.
Sareb has managed to reduce bad loans by almost one-third, but divestment of toxic assets remains behind target.
Oaktree Capital Management has bought a portfolio of non-performing loans with a nominal value of €150 million from Sareb, Spain’s ‘bad bank’.
Deutsche Bank has acquired a portfolio of non-performing loans with a nominal value of €375 million from Sareb, Spain’s ‘bad bank’.
The European Commission has backed the European Parliament’s proposals to water down new rules on banks holding non-performing loans (NPLs).
The bank strengthened its position by growing its presence, particularly outside Germany.
Sales of real estate loans and lender-owned properties look set to surpass the €85.9 billion 2015 market peak this year, on the back of large-scale loan sales and securitisations of non-core debt in the Spanish and Italian markets.
Non-performing loan sales in Portugal look set to ramp up to almost €2 billion in 2017, according to the latest research from consultancy firm Prime Yield, which is based in the country.