Banc of Manhattan Capital, Woodland Hills, Calif., is taking bids on a $26 million pool of reperforming whole loans, servicing released.

The seller's identity was not disclosed. The winning bidder will need to be Home Affordable Modification Program-certified.

Banc of Manhattan is warning investors that "no fade bids" will be accepted. "Subsequent value fades will not be accepted unless there is a severe material issue."

The auction firm hopes to settle the deal by the end of April.

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