The Federal Housing Administration has completed a sale of nearly 12,500 nonperforming loans for roughly 46% of the unpaid principal balance of the loans.

The bidding on the 10 pools with a total UPB of $2.2 billion was conducted on March 20. The broker price opinion for the 10 pools was $1.6 billion. Seven of the pools came from Bank of America’s servicing shop.

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