The Traderszone Network

Published in TZ Latest News 3 September, 2015 by The TZ Newswire Staff

Cerberus Spends $5.7 Billion on U.S. Mortgages Shunned by Banks

If you have a modified mortgage made around the time of the U.S. housing market’s peak, Cerberus Capital Management probably wants to buy it. The investment firm has acquired more than $5.7 billion in residential loans as of the end of July, mostly consisting of mortgages issued from 2005 to 2007 and then modified, according to a marketing document obtained by Bloomberg. The company is seeking to increase the purchases, which are tied to homeowners who are less likely to default because they’ve been making regular payments for several years.