DebtX to Sell $252 Million in Loans

DebtX, the largest marketplace for loans, today announced it will sell more than $252 million in loans from four banks in Federal Deposit Insurance Corporation (FDIC) receiverships.

On January 27, DebtX will accept bids for $65.9 million in loans from Ameribank of Northfork, West Virginia and $24.1 million in loans from Meridian Bank of Eldred, Illinois. On February 10, DebtX will accept bids for $92.9 million in loans from Alpha Bank of Alpharetta, Georgia, and $69.4 million in loans from Main Street Bank of Northville, Michigan.

The loans for sale include a wide range of performing and non-performing loans secured by commercial and residential real estate, business, and other assets. Due diligence materials for the transactions are now available at www.debtx.com.

“DebtX’s sales for the FDIC are expected to attract significant investor interest due to increased demand for this type of loan product,” said DebtX CEO Kingsley Greenland. “The amount of capital available to purchase both performing and non-performing loans is escalating among investors both in the U.S. and abroad.”

About DebtX
DebtX is one of the world’s leading full-service loan sale advisors for commercial, consumer and specialty finance debt. DebtX operates the world’s largest and most liquid online marketplace for loans, with more than 4,000 registered and approved investors and more than 300 selling institutions, including commercial banks, insurance companies, investment banks and government-sponsored enterprises. DebtX also offers DXMark®, the first objective valuation of commercial real estate portfolios based on actual secondary market loan sales. DXOpen® is a family of deal management products used by syndication and agency services professionals. DebtX is based in Boston, with U.S. offices in Atlanta, New York, and San Francisco, and European offices in London and Frankfurt. For information, call 617-531-3400 or visit www.debtx.com.