|A loan sale is a commonly used term for the sale of loans or loan pools. Loans acquired by the FDIC from failed financial institutions are generally sold in pools through sealed bid sale or English outcry auction.
The FDIC markets loans through several loan sales advisors:
First Financial Network
Debt-X, The Debt Exchange
Mission Capital Advisors
When FDIC has loans available for sale they will be assigned to one of the two loan sale advisors and the loans will be market on their respective websites. The loan sale advisors will provide approved bidders information on the loan pool(s) being offered for sale. Each advisor has the ability to offer both electronic due diligence on their website and hard copy due diligence. Each of their websites has an internet bid platform where bids on FDIC loan sales will be submitted.
If you are interested in participating in a loan sale offering, you are recommended to contact each of the loan sale advisors and request an account on their web site. Each advisor has their own requirements for granting access to their site. You are encouraged to make application so you will receive notice of any FDIC loan sale offering.