The FDIC's and RTC's foreclosure consent and redemption rights
Article Abstract:
The FDIC and Resolution Trust Corp (RTC) have waived all rights of consent and redemption in foreclosures involving property in which the agencies held a lien or an equity interest under 12 United States Code (USC) Section 1825(b)(2) and 28 USC Section 2410(c). The new policy will simplify and ease a real estate lender's ability to foreclose on properties owned or managed by the FDIC and RTC. The agencies waived the rights after real estate professionals said the rights disrupted mortgage and real estate markets.
Publication Name: Real Estate Review
Subject: Real estate industry
ISSN: 0034-0790
Year: 1993
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Managing the cleanup of the thrift crisis
Article Abstract:
The Resolution Trust Corp's (RTC) first two years of resolving the savings and loan associations bailout crisis are analyzed in relation to the agency's asset disposition programs. The progress of the RTC is of interest to individuals contemplating the acquisition of assets of the 674 insolvent savings and loan associations seized by the agency from 1989 through Nov 1991. Information on the RTC's bulk sales program to sell underperforming mortgages and real estate owned properties is included.
Publication Name: Real Estate Review
Subject: Real estate industry
ISSN: 0034-0790
Year: 1993
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