Good data - thanks

Post #306,837 by dmcarls 4/6/09 9:09:44 AM Reply	Good data - thanks Those non-performing loans! Yikes! 3 cents on the dollar? Talk about toxic!
Post #306,839 by boxley 4/6/09 10:01:16 AM Reply	thats not bad, what is the collateral for the non preforming loans going for is what I would be interested in. Bottom feeders buy those notes and harass the bajeezus out of the poor schmuck who made it. If they get an average return of 20 cnts they are happy thanx, bill
Post #306,905 by Another Scott 4/6/09 11:00:05 PM Reply	That was shocking, but understandable. I assume a "nonperforming" loan is not receiving payments so it's a big gamble on making any money on it. What I was flabbergasted by was the discounts on the "performing" loans. E.g. Package of 4 loans: $5,236,145 book value, $2,635,745 sales price How does that make any sense? Wait. That's from 1994. Let's see something from this century... Package of 230 loans: $13,632,992 book value, $1,554,161 sales price WTF!?!?! Some of the performing loans went for par, as I would naively expect. But most of the ones listed had gigantic discounts. These huge discounts sure seem to indicate that a lot of value went Poof! Cheers, Scott. (Who thinks the banks won't be getting close to 80% of par in the PPIP, if it isn't a scam.)
Post #306,916 by drook 4/7/09 8:28:31 AM Reply	Close, but not quite These huge discounts sure seem to indicate that a lot of value went Poof! No, actually they indicate a lot of "value" went Poof. And no doubt some value went along for the ride. -- Drew

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