PR - DebtX to Sell $46 Million in Loans for FDIC
DebtX announced Tuesday the sale of $46 million in Consumer and Commercial Real Estate loans bidding March 18, 2008.
The transaction involves the sale of 1,300 loans for which the Federal Deposit Insurance Corp. is acting as receiver, including a substantial number of performing large consumer loans. The loans are secured by a wide range of collateral, including aircraft, automobiles, boats, recreational vehicles, and commercial real estate. Due diligence will commence February 15, 2008. For more information, contact Ken Daley at 617-531-3428 or fdicq108@debtx.com.
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The sale is the first under a new, five-year agreement DebtX signed with the FDIC in December to liquidate receivership assets. From 2001 to 2004, DebtX sold more than $460 million in loans in eight separate transactions for the FDIC.
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