The Federal Deposit Insurance Corp. (FDIC) is reportedly preparing to sell $3 billion worth of loans from AmTrust Bank, said a Bloomberg report, citing people who are involved in the sales. AmTrust is the a Cleveland-based lender seized by FDIC last December.
Barclays Capital, confirmed ASR sources familiar with the sales, is getting ready to solicit bids for a $2 billion portfolio of loans from AmTrust.
Meanwhile, Stifel Nicolaus & Co., according to Bloomberg, will take bids for $1 billion of mostly nonperforming home loans in May or June. The report cited two people involved in the deal who asked not to be named since the deal terms have not been completed.
David Barr, FDIC spokesman, said the agency does not comment on future or pending offerings, Bloomberg reported.