SAREB is looking for alternative servicers to manage its portfolio

Spain’s bad bank has recently put in the market  a contract for the management of €34 billion in non-performing loans (NPL) and real estate assets (REO) that it still has in its portfolio, according to El Confidencial.

The biddings presented by the four major servicers failed to comply SAREB’s targets, making the entity to contact other specialezed companies such as Hipoges, Finsolutia or Copernicus. With this, the bad bank has also sent a message to Haya Real Estatem Servihabitat, Solvia and Altamira, that they should improve their offers in order to they are not left without contracts.

In this way, SAREB is also analysing the possibility of splitting some parts of tis portfolios by geographic areas or by keeping two managers by are in order to simplify the management.

Original Story:EJE Prime
Photo: Sareb Linked In
Translation & Edition:Prime Yield