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BOSTON-The FDIC will sell $198 million in residential real estate loans via online auction. DebtX, a locally based loan sale advisor, will provide the electronic loan sale platform to execute the sale and is partnering with Deloitte & Touche, which is managing the overall disposition.

The FDIC portfolio consists of performing loans taken over by the FDIC from the Resolution Trust Corp. The loans were securitized in 1995 and are being sold at approximately 10% of their original balance.

DebtX CEO Kingsley Greenland notes that the online auction is effective in bringing “buyers and sellers together to create a liquid secondary market for virtually all classes of debt.” The sale will be held Sept. 12.

Recently, DebtX sold $70 million in residential mortgages for the FDIC. In June, DebtX’s electronic platform was chosen by Insignia/ESG to help dispose of more than $700 million in loans for the US Small Business Administration.

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