FDIC Trying to Sell Market Street Mortgage

The Federal Deposit Insurance Corp. is beginning to field inquiries from potential buyers looking at Market Street Mortgage, Clearwater, Fla., a subsidiary of the failed NetBank Inc. of Atlanta.In the spring, Market Street Mortgage was actually looking at buying other lenders, investment banking sources said. But in the summer, when it appeared that its bank parent would fail, the company began searching for new owners. According to the Mortgage Industry Directory, a SourceMedia publication, MSM funded $3.1 billion last year, ranking 96th nationwide. At deadline time, an FDIC spokesman had not returned a telephone call regarding MSM. One adviser said, "I think the company will be sold in chunks." The lender does not own a servicing portfolio. Market Street can be found online at http://www.marketstreetmortgage.com.