18/09/2009

Legacy Loans Program -Pilot Sale Successful

FDIC conducted the pilot sale of receivership assets ( a part of the Public-Private Investment Program) and Residential Credit Solutions was identified as the winning bidder.

 

FDIC conducted this sale as a funding mechanism for the Legacy Loans Program (LLP).

 

Now all that remains is for the FDIC to analyze whether this sale will help remove non-performing assets from the balance sheets of the banks and boost lending.