May 13, 2020
To help commercial lenders minimize damage to balance sheets resulting from the COVID-19 pandemic, Eastern Union has launched a Distressed Notes Initiative that will identify investors interested in purchasing lenders’ troubled mortgages. The new initiative will be spearheaded by company co-founder and managing partner Abe Bergman.
“We understand what lenders need and we will serve their best interests,” said Bergman. “At the same time, we have strong and well-established business relationships with vast numbers of investors. Many will be willing to take troubled loans off lenders’ hands.”
Bergman said a number of lenders had recently reached out to Eastern Union indicating that they expected to face liquidity issues in the coming weeks or months, especially as regulatory circumstances evolve.
“We know exactly how lenders think during these types of downturns,” he said. “We are in constant contact with banks right now, and we understand their mindset during these challenging times.”
For comments, questions or concerns, please contact Paul Bubny