BankXchange Loan Marketplace Offering High-Yield Portfolio.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--Aug. 15, 2002 Bridger Commercial Funding announced today that it has been retained by a California-based community bank to sell a $7.5 million portfolio of high-yielding, seasoned loans through its BankXchange(TM) program. The portfolio is priced to yield 10.4%. All loans have a history of current payments. This latest portfolio to be offered through BankXchange consists of fully amortizing loans In banking and finance, an amortizing loan is a loan where the principal of the loan is paid down over the life of the loan, typically through equal payments. Each payment to the lender will consist of a portion of interest and a portion of principle. secured by owner-occupied modular housing units diversified throughout the Southwest. "The Seller was recently purchased by another bank that has a different investment philosophy. While management loves the yield and the portfolio's credit history, it didn't make sense to retain a single modular housing portfolio on the books," said Peter Grabell, Bridger Senior Vice President. "The loans were originated by an experienced and respected lender in the field under disciplined underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. guidelines guidelines, n.pl a set of standards, criteria, or specifications to be used or followed in the performance of certain tasks. ," he added. BankXchange is the loan marketplace of the U.S. banking industry. Banks can manage their real estate loan exposure by trading loans through Bridger's network of over 900 banking relationships nationwide. For further details regarding the portfolio sale, please contact Paul O'Rear at 415/289-3239. Bridger Commercial Funding is the leading commercial real estate capital markets resource serving the U.S. banking industry, with over 850 bank relationships nationwide. Bridger's innovative products and technology applications help banks maximize their risk-adjusted returns Risk-Adjusted Return A measure of how much risk a fund or portfolio takes on to earn its returns, usually expressed as a number or a rating. Notes: This is often represented by the Sharpe Ratio. The more return per unit of risk, the better. by accessing the secondary mortgage market. Bridger's commercial mortgage-backed securities Commercial mortgage-backed securities (CMBS) are a type of bond commonly issued in American security markets. They are a type of Mortgage-backed security which are backed by mortgages on commercial rather than residential real estate. (CMBS CMBS See: Commercial Mortgage Backed Securities ) loan origination The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. program enables banks to boost financial performance by generating substantial fee income while retaining and enhancing borrower relationships. In addition, Bridger's BankXchange(TM) program optimizes banks' loan portfolio risk profiles and returns by facilitating purchases and sales of loan portfolios, whole loans and participations. Through a growing network of over 3,100 commercial loan officers nationwide, Bridger is commercial real estate banking's premier provider of secondary market origination and trading solutions. |
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