FDIC Peddles $898 Million in Non-Performing Residential Loans to Investor Consortium
July 23, 2010
The Federal Deposit Insurance Corp. said this week that it sold an equity stake in a $898 million portfolio of primarily non-performing residential mortgages from the 2009 failure of AmTrust Bank. The agency sold the pool to a three-party group including Residential Credit Solutions, CarVal Investors, and RBS Financial Products for about 37 percent of the unpaid principal balance of the...