David Tobin, principal of Mission Capital Advisors in New York, attended National Mortgage News' recent Buying and Selling Distressed Mortgage Portfolios Conference and does not agree with those at the conference who said the gaps between bid and ask are too big in this sector.

Tobin, whose firm values commercial and residential mortgage debt and has done $35 billion in whole loan sales since 2002, says the distressed mortgage market is more robust than some would think.

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