For the first time, the Federal Savings...
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For the first time, the Federal Savings & Loan Insurance Corp., acting as receivers, will try the public auction as a sales method to dispose of loan portfolios from failed institutions. The loan packages are valued at $40 million and represent assets from six closed savings and loans in Tennessee and Ohio. The auction will be held at the Westin O’Hare Hotel in Rosemont, Ill., on April 15.
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