Pedestal Inc. has been selected by the Federal Deposit Insurance Corp. to conduct exclusive live internet auctions of mortgage loans totaling $53.2 million. The live online auctions involving about 2,100 mortgage loans will take place on the Pedestal site, www.pedestal.com, on July 12. The loans are predominantly from the West and South, with the highest geographic concentrations from Texas, Florida, New Mexico, Colorado and Oregon. The loans are being sold servicing-released.