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BofA, Citigroup, JPMorgan Offering $4.5 Billion of Loans

Lenders including Bank of America Corp. and Citigroup Inc. are accelerating their sales of soured U.S. mortgages as investment firms compete to buy the debt.

Bank of America is offering $2.56 billion of troubled debt, consisting of nonperforming loans, home-equity lines of credit and some reperforming mortgages, according to loan broker Mission Capital Advisors. Citigroup is seeking buyers for $1.8 billion of reperforming mortgages, where payments have resumed, and JPMorgan Chase & Co. is offering $143 million of nonperforming loans. The planned sales follow more than $1 billion of troubled debt already offered in the past two weeks, Mission Capital said.