Web Speeds Up Loan Sales

The last time lenders were forced to unload an enormous volume of distressed real-estate loans was in the 1990s, when interested buyers had to go through a time-consuming and often-opaque process with dozens of institutions.

Now they have the Internet. As banks put an increasing volume of commercial real-estate loans up for sale—both distressed and performing—many are turning to online auction services and virtual "data rooms" to sell the smorgasbord of debt on malls, office buildings and apartments.

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