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npl-reo Market News: Spanish Real Estate Intelligence

Unicredit appointed doValue to manage the biggest residential NPL project in Europe
02 December, Milano Finanza doValue reached an agreement with UniCredit concerning the exclusive management of a non-performing residential mortgage portfolio for a GBV of 6.1 billion euro. The agreement implies the securitisation of the non-performing mortgage loans backed by assets included in the Prisma project, the biggest NPL project in Europe. The credits are already under the management of doValue, as per the agreement entered with UniCredit in 2015. This new agreement, however, appoints doValue as the special servicer for the securitisation and as the master servicer for the portfolio, strengthening in this way the leadership of doValue in the Southern European servicing market. Source: Milano Finanza Translator: Cristina Ambrosi
Ubi Banca to sell an NPL portfolio for 800 million by the end of the year
11 November, Bebeez Ubi Banca is currently considering the transfer of a non-performing portfolio consisting of residential mortgages for a gross value of 800 million euro using the State guarantee. The operation is expected by the end of the year. Following the transaction, the bank’s Npe ratio will reduce to 8%. Meanwhile, Ubi Banca is continuing with its credit collection internal activity to reduce the NPL stock further. Source: Bebeez Translator: Cristina Ambrosi