The Resolution Trust Corp., the entity formed to dispose of the assets of failed savings and loan associations, has completed $53.3 million in sales of two portfolios of residential mortgage loans held by the former American Savings and Loan, Salt Lake City.
Lehman Capital Corp., New York City, purchased a portfolio of 1,172 one-to four-family residential mortgage loans for $43.1 million or 82.5 percent of par.A portfolio of 306 one-to-four-family residential mortgage loans was sold to Principal Mutual Life Insurance Co., Des Moines, Iowa, for $10.2 million or 93.6 percent of par.
The portfolios received 12 sealed bids.