AssetExchange.com helped Nevada-based Redwood Commercial FundingInc. locate a buyer for a portion of its commercial loan portfolio.Redwood posted a $27 million portfolio on the AssetExchange.com website in late March. A buyer identified the asset as an acquisitionopportunity within two weeks of its posting, and a $3 million assetfrom that portfolio sold on July 26.
Redwood Commercial Funding, an affiliate of Redwood TrustInc.(NYSE: RWT), originates, services and sells high-qualityshort-term commercial bridge mortgage loans. Sherry Poundstone,commercial loan trader for Redwood Commercial Funding, says she ishappy with the sale and will partner with AssetExchange on othersecondary market transactions.
Portland-based AssetExchange.com now has 21 commercial mortgage,residential mortgage and credit card portfolios for sale onlinefrom various financial institutions. The company future plansinclude auto and other loan portfolios.
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