Marketing and Selling Real Property on an Individual Basis and Disposition of Real Estate-Related Assets

Résumé

The Resolution Trust Corporation (RTC) is hereby adopting an interim rule with request for comments to implement the marketing provisions contained in subsections (w)(2) and (3) of section 21A of the Federal Home Loan Bank Act (FHLBA), recently added by section 3(a) of the Resolution Trust Corporation Completion Act. This rule provides policies and procedures required under subsections (w)(2) and (3) for the marketing of real estate owned (REO) assets on an individual basis and for the disposition of REO assets with a book value of more than $400,000 and non-performing real estate loans with a book value of more than $1 million. This rule supersedes the marketing policy for real estate owned, entitled ``Individual REO Sales,'' adopted by the RTC on April 15, 1993. The RTC is seeking comments on all aspects of the interim rule.