“A way of exploring leverage”
One bidder who has seen the offering documents said the Calabasas-based vulture fund is marketing the loans as “mostly performing,” adding that investors are allowed to buy different portions of the pool.
No other details were available at press time, according to Structured Finance News.com.
A PennyMac spokesman said the company generally does not discuss its auctions until after a sale actually takes place. He noted that the publicly traded vulture fund and servicer will consider securitizing some of its assets “as a way of exploring leverage” but could not say anything concrete about the matter.
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