Relevant:
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- Distressed Homes in U.S. Sold at 27% Discount
- Foreclosure Homes Sold at 28% Discount Last Year as Supply Grew
- Penson Says Sentinel Sold Its Assets to Citadel Without Notice
- TICsaster: Foreigners Sell More US Securities Than After Lehman Bankruptcy
2009-09-17 — market-ticker.org
This borrower couldn't pay and thus stopped doing so. This should generate a "NOD" (Notice of Default) and ultimately lead to foreclosure, right? It should result in an impaired asset which might be sold to some other company (at a discount), right?
It got sold all right - right at the "120 day" late point where Wells counts a loan as "defaulted."
But look at who it got sold to.....
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