WASHINGTON -- The Resolution Trust Corp. has declared its first sale of nonperforming housing loans backed by tax-exempt bonds to be successful and is moving ahead with a second auction, scheduled for yearend.
But some bond issuers and investment bankers say they continue to be concerned that the RTC is moving too fast. As a result, they say, the agency is failing to do all it could to preserve the bond financing and make sure the projects continue as housing for low-income people.
Seven Bidders Successful
"They need to be more responsive to the needs of the market," said a housing developer who asked not to be named. "I don't want to see this …
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