The FDIC is leaning on the private sector to help unwind Signature Bank’s vast commercial real estate loan portfolio of roughly $60 billion. Newmark has been tapped to lead the sale process, with the loans being structured into pools. The majority of the loans are five-year, fixed rate, and are high-performing but may be sold below market value because they were prior to the Fed’s interest rate increase. Newmark was also hired back in February to sell the bank’s performing loans, prior to its failure. The FDIC is also selling $38.4 billion of Signature’s assets to New York Community Bancorp.
