- The package of 1,441 non-performing loans was completed for $117M, representing about 61.8% of the total unpaid principal balance. It's the 7th purchase by SWAY, with all done for a combined price of $473.6M, or 54.7% of the UPB. That's significantly cheaper than the most recent deal as distressed assets are maybe becoming harder to source.
- In addition, the company gets more firepower for additional acquisitions, boosting its $350M warehouse credit facility to $500M.
- Source: Press Release
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