DebtX and SEBA to Sell $2.9 Billion Portfolio for HUD

Bulk Sale of Non-performing Loans to be Held March 20 and March 27, 2013

WASHINGTON--(BUSINESS WIRE)--DebtX, on behalf of SEBA Professional Services, will sell a $2.9 billion portfolio of non-performing residential loans for the U.S. Department of Housing and Urban Development (HUD).

“This sale is another significant milestone for HUD in achieving its single family loan sale goals”

The HUD portfolio, SFLS 2013-1, consists of two parts. A national offering will bid at www.debtx.com from 11 a.m. to 1 p.m. on March 20, 2013. A Neighborhood Stabilization Outcome Pool (NSO) offering will bid at www.debtx.com from 11 a.m. to 1 p.m. on March 27, 2013.

The National offering includes approximately 12,500 loans with a $2.23 billion unpaid principal balance. The NSO pools include more than 4,000 loans with a $639 million unpaid principal balance. The NSO pools are expected to include loans in targeted distressed areas in California, Florida, Georgia and Ohio.

“This sale is another significant milestone for HUD in achieving its single family loan sale goals,” said Erhiuvie Abu, President and CEO, SEBA Professional Services, LLC.

In September, SEBA and DebtX offered $1.7 billion in non-performing single family for HUD. This was also conducted in two parts, including both national pools and regionally based NSO pools.

“Investors have expressed tremendous interest in HUD’s Distressed Asset Stabilization Program, which continues to represent the best opportunity to acquire assets in bulk,” said DebtX CEO Kingsley Greenland. “We anticipate excellent investor participation in this sale.”

Investors can download qualification materials at www.debtx.com. For additional information, please contact Mike Roth, 617.531.3424, [e-mail] or [e-mail].

About SEBA

SEBA Professional Services is an 8(a) certified, woman-owned, small disadvantaged business providing management consulting, financial advisory and information technology solutions services. SEBA’s range of services includes portfolio management, risk assessments, internal control reviews in accordance with Office of Management and Budget (OMB) guidelines and the Federal Managers’ Financial Integrity Act (FMFIA), information assurance, and training. SEBA’s offices are located in Washington, DC. For more information, call +1 202.552.7356 or visit www.sebapro.com.

About DebtX

DebtX operates the world’s most liquid marketplace for loans. Through its loan sale advisory and valuation and analytics services, DebtX maximizes loan sale proceeds for financial institutions and government agencies. For syndication, agency, and loan sale professionals, DebtX provides a suite of web-based deal management solutions. DebtX is based in Boston, with offices across the U.S. and Europe. Call +1.617.531.3400 or visit www.debtx.com. Follow DebtX on Facebook, Twitter and LinkedIn.