Out of an original field of 10 or so bidders, Selene Residential Mortgage Opportunity Fund — which includes MBS co-inventor Lewis Ranieri — has won the auction for roughly 1,000 REO properties that belong to the bankrupt Taylor, Bean & Whitaker of Ocala, Fla.

A court is expected to certify the Selene bid on Tuesday, said one official close to the deal. The purchase price is in the range of $80 million but could turn out to be lower with some REO properties falling out of the pool before closing, said the official who requested his name not be used.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.