FDIC Picks HanoverTrade for Keystone Sale

Published October 29, 2003, 3:00 p.m. EST

1 Min Read

HanoverTrade Inc., Edison, N.J., has announced its selection as marketing agent for the Federal Deposit Insurance Corp. (as receiver for the First National Bank of Keystone) in a $180 million trust termination sale.The assets to be liquidated consist of Keystone Home Equity Loan Trust 1996-1 and the following series of First National Bank of Keystone FHA Title I loan asset-backed certificates: series 1995-3, 1995-4, 1995-6, 1996-2, 1996-3, 1996-P1, and 1996-P2. The trust assets are being offered in three pools, ranging in size from $11 million to $123 million, the company said. The bid date is scheduled for Dec. 10. HanoverTrade is a subsidiary of Hanover Capital Mortgage Holdings Inc., a mortgage real estate investment trust. It can be found online at http://www.hanovertrade.com.

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