First BanCorp Sells $237M Nonperforming Portfolio

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First BanCorp Sells $237M Nonperforming Portfolio

June 21, 2013

Source: National Mortgage News

First BanCorp, San Juan, P.R., has sold $237 million in nonperforming residential mortgages, plus an additional $22 million in real estate owned for $128 million in an all-cash transaction. Mission Capital Advisors LLC advised the company on this sale.

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