Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.