First BanCorp in San Juan, Puerto Rico, sold $52.5 million of nonperforming mortgages.
The $21.4 billion-asset company disclosed in a quarterly regulatory filing that it received an unsolicited offer to buy the loans, along with $2 million of related servicing rights.
“The corporation's primary goal with respect to this transaction
is to accelerate the disposition of nonperforming assets,” the filing said.
The sale lowered the amount of nonperforming mortgages at First BanCorp
by 43%.
No comments:
Post a Comment