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Press Releases |
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FDIC TO SELL UP TO $1.25 BILLION OF COMMERCIAL MORTGAGE LOANS
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FOR IMMEDIATE RELEASE PR-18-94 (3-17-94) |
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The FDIC's Board of Directors has approved a proposal by its
Division of Depositor and Asset Services to sell mortgage pass-
through certificates in a public offering. The plan will be the
Corporation's first sale of loans as part of a mortgage-backed
securities transaction.
The certificates will evidence beneficial ownership interests in performing commercial real estate-secured loans with a book value of up to $1.25 billion. The commercial mortgage loans were originated by failed depositary institutions nationwide that were insured by the Bank Insurance Fund The certificates are expected to include an FDIC guaranty for a limited amount of credit losses and interest rate risk, with subsequent losses borne by the holders of the securities. The offering of the securities will be made only by means of a prospectus. |
| Last Updated 07/13/1999 | communications@fdic.gov |