The sale of distressed assets has become one of the largest segments of the mortgage business, panelists at the Mortgage Bankers Association's (MBA) Secondary Market Conference in New York City agreed. 

John Daurio, chairman of Kondaur Capital, Orange, Calif., told a standing room only session that since March 31, roughly $10 billion worth of non-performing mortgages have been put up for sale, "more than we've seen cumulatively over the last couple of years."

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