If you want to bid on a Federal Deposit Insurance Corp. non-performing loan pool (or any private auctions) it's going to cost you money. To bid on government packages the 'pay to play' cost can range from $20,000 to $250,000, according to various investors and brokers. The good news is that the money is refundable but it keeps out the novices who aren't serious. Meanwhile, we heard an unconfirmed report that Bank of America was recently offering (for bid) $100 million in collateral tied to a warehouse line. The collateral came from a bankrupt non-depository...
Processing Content
