Relevant:
- RCS to Purchase $1.3 Billion in Residential Mortgage Loans From FDIC
- FDIC Sells Equity Stake in $1bn Portfolio of Distressed CRE Loans
- FDIC May Let Banks Share Profit From Distressed Loans They Sell
- FDIC Plans to Sell $1.1 Billion in Property Loans Seized From Failed Banks
- FDIC: Banks hit by Troubled Real Estate Loans
2009-02-26 — fdic.gov
" The Federal Deposit Insurance Corporation (FDIC) today announced the conclusion of the sale of $1.45 billion of performing and nonperforming residential and commercial construction loans in distressed markets through the use of two private/public partnership transactions. These structured sales utilize the asset management expertise of the private sector, while retaining for the FDIC a participation interest in all future cash flows generated by the workout of the assets over time. "
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Comments:
homerebound at 03:37 2009-02-27 said:
The FDIC is spinning this as great news; however, the details of the deal, although vague, seems very poor. Any thoughts? Permalinkadd a comment | go to forum thread
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