Sabadell prepares first sale of ‘healthy’ mortgages to improve its accounts

Spanish banks are looking for new assets to dispose of in order to avoid an upturn in delinquency. This is the case of Banco Sabadell, which has just launched the first sale in its history of mortgages that are up to date with payments, but with poor prospects or which have been in arrears in some instalments, known in the jargon as reperforming loans (RPL).

The bank is working with Deloitte to value the sale through a securitisation of the Dara Project, a portfolio of €300 million in healthy mortgages, but with a probability of non-payment.

Original Story: El Confidencial | J. Zuloaga 
Photo: Banco Sabadell website
Edition and translation: Prime Yield