In its final auction, the Resolution Trust Corp. last week sold 5,700 performing and nonperforming loans for a total of $404 million.

The loans sold at the Kansas City, Mo., auction had a book value of $577 million - making for a recovery rate of 70%. Performing loans sold for an average of 87% of book value, while nonperforming loans sold for an average of 50% of book.

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