The Federal Deposit Insurance Corp. (FDIC) hopes to sell a MBS collateralized by at least $500 million of performing residential whole loans by the end of this month through a private placement deal, investment banking sources told National Mortgage News.

The agency hopes this could be the first of many MBS offerings, depending on how well it's received in the market. The exact size of the private security could be just under $1 billion, one source said.

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