FDIC sells off Fla. banks’ bad loans

"The Federal Deposit Insurance Corp. on April 1 closed on the first of a series of sales of bad loans previously held by failed banks, including three in Florida. Charlotte, N.C.-based Roundpoint Mortgage Servicing Corp. had the highest bid of $34.4 million in an auction with eight other investment companies that bid for 50 percent ownership of the delinquent loans valued at $490 million. The FDIC will hold the other 50 percent."