NEW YORK — Mission Capital Advisors, a leading national real estate capital markets solutions firm, today announced that its residential trading group has surpassed $1 billion in offered transactions for 2013, and is currently marketing more than $400 million in three separate offerings.
The group, which specializes in the sale of fixed-rate and adjustable-rate seasoned prime, Alt-A and sub-prime loan portfolios, has conducted the sales for a broad array of financial institutions including major financial services firms and various private equity groups.
“Our clients are achieving execution levels that are bridging the bid/ask spread that had existed during the past few years,” stated Luis Vergara, a managing director with Mission Capital’s residential trading group. “Capital continues to flow into the residential space with liquidity being enhanced through financing sources that allow investors to pursue larger trades.”
According to Mission Capital’s research, year-to-date transaction volume for the sale of residential whole loans in the U.S. has already exceeded $30 billion.
“It’s interesting to note that while $30 billion in transactions represents more than double 2012’s transactional volume, the number of transactions completed year-over-year has remained relatively the same,” Vergara said.
In addition to its core loan sale business, Mission Capital has expanded its platform by offering customized solutions to major financial institutions that maintain a trading presence but require resources to handle the numerous “back office” functions necessary to conduct systematic loan sales.
“For the largest institutions, the unwinding of legacy positions will be a multiyear process,” stated Dwight Bostic, a managing director and head of Mission Capital’s residential group. “The focus of Mission Capital’s core loan sale business has positioned us to provide solutions that are variable in both cost and commitment. With expertise in the demands of whole loan buyers as it relates to collateral and compliance, we’re able to ensure that our clients’ loan packages will trade with minimal fallout.”
Additionally, Mission Capital provides portfolio valuations for the FDIC and regional banks, and has entered into a long-term agreement to provide valuations for a major lender serving investors of seasoned residential loans.
“Our expertise in modeling residential loans combined with real market execution provides an unprecedented level of precision in our marks,” Bostic said.
About Mission Capital Advisors
Founded in 2002, Mission Capital Advisors, LLC is a leading national, diversified real estate capital markets solutions firm with offices in New York City, Florida, Texas, California and Mobile, Al. The firm delivers value to its clients through an integrated platform of advisory and transaction management services across commercial and residential loan sales; debt, mezzanine and JV equity placement; and loan portfolio valuation. Since its inception, Mission Capital has advised a variety of leading financial institutions and real estate investors on more than $45 billion of loan sale and financing transactions, as well as in excess of $14 billion of Fannie Mae and Freddie Mac transactions, positioning the firm strongly to provide unmatched loan portfolio valuation services for both commercial and residential assets.
Mission Capital’s seasoned team of industry-leading professionals is committed to achieving clients’ business objectives while maintaining the highest levels of integrity and trust. For more information, visit www.missioncap.com.