Mission Capital Advisors, a loan sale adviser for the Federal Deposit Insurance Corporation, is offering a $157 million mortgage portfolio comprised of performing and nonperforming loans. The issuing banks are currently in receivership.
The assortment of government-guaranteed mortgages and conventional loans is backed by one-to-four family residential and commercial real estate, as well as raw land and commercial and industrial property.
The final bid date is Oct. 9; the closing date is Oct. 26.
Mission Capital is also selling a $250 million single pool of commercial mortgages with an Oct. 17 final bid date.
The $157 million nationwide offering consists of loans from the following closed banks: