United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office General Government Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 1995-12-22 monographic deposited born digital 21 p. GA 1.13:GGD-96-44 https://www.govinfo.gov/app/details/GAOREPORTS-GGD-96-44 P0b002ee1803766c7 f:gg96044 DGPO 2010-08-12 2011-03-28 GAOREPORTS-GGD-96-44 machine generated eng fdlp REPORT GAOREPORTS-GGD-96-44 GGD-96-44 Bank failures Mortgage loans Minority businesses Lending institutions Fair market value Assets Sales Price adjustments Interest rates RTC Minority Preference Resolution Program RTC Securitization Program Letter Report GGD Pursuant to a legislative requirement, GAO reviewed the Resolution Trust Corporation's (RTC) efforts during fiscal year (FY) 1995 to sell performing assets to acquirers of failed thrifts under the Minority Preference Resolutions Program.<p/>GAO found that: (1) RTC established a reasonable process for the independent valuation of residential mortgage loans that were offered for sale to minority acquirers; (2) RTC contracted out the initial phase of the loan pricing process to be fair to minority acquirers while maximizing the total return on asset disposition; (3) 11 of the 14 minorities who bought thrifts from RTC under the Minority Preference Resolutions Program purchased 4,063 residential mortgage loans during FY 1995; and (4) the two valuation contractors priced mortgage loans using a methodology that considered adjustments in interest rates, credit risk, and was consistent with Freddie Mac's and Fannie Mae's pricing methodology. https://www.govinfo.gov/content/pkg/GAOREPORTS-GGD-96-44/html/GAOREPORTS-GGD-96-44.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GGD-96-44/pdf/GAOREPORTS-GGD-96-44.pdf GAO/GGD-96-44 https://www.govinfo.gov/app/details/GAOREPORTS-GGD-96-44 Letter Report GAO/GGD-96-44; Resolution Trust Corporation: Performing Assets Sold to Acquirers of Minority Thrifts; Bank failures Mortgage loans Minority businesses Lending institutions Fair market value Assets Sales Price adjustments Interest rates RTC Minority Preference Resolution Program RTC Securitization Program Volume 107 Page 2369 107 Stat. 2369 Public Law 103-204