tag:blogger.com,1999:blog-3176719802547449309.post4957159676770648510..comments2012-10-08T00:01:59.170-04:00Comments on REAL ESTATE STRAIGHT TALK: CRE Loan Benchmarks and the FDICAnonymoushttp://www.blogger.com/profile/18090116213424264649noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-3176719802547449309.post-20966933109796763232010-01-15T13:28:25.118-05:002010-01-15T13:28:25.118-05:00Thanks for the comments. Tim what are you referrin...Thanks for the comments. Tim what are you referring to as "restrictions". To buy FDIC CRE loans from one of the 5 loan sales platforms (Debtx, FFN, etc) I know you need to be an "accredited investor" and attest to such on their CA. But other than that; money talks.Anonymoushttps://www.blogger.com/profile/18090116213424264649noreply@blogger.comtag:blogger.com,1999:blog-3176719802547449309.post-84288418561000766932010-01-15T10:26:54.851-05:002010-01-15T10:26:54.851-05:00I don't believe it will set a standard for any...I don't believe it will set a standard for any sales of distressed loans from banks or other lenders who have not failed and been taken over by the FDIC, because of the fact that the FDIC can insure that there are no offset claims or defenses to the enforcement of those loans, because of the application of federal law, and the ability of the FDIC to bifurcate any borrower counterclaims, offset rights, defenses, and so on, and separate those clams from the loans themselves. I would expect, therefore, that there would be a premium attached to any sales of distressed loans by the FDIC.<br /><br />Regards,<br /><br />David Ambrose<br />drambrose@ambroselaw.comAnonymoushttps://www.blogger.com/profile/03809037759025983196noreply@blogger.comtag:blogger.com,1999:blog-3176719802547449309.post-38387883395495339842010-01-15T06:31:48.190-05:002010-01-15T06:31:48.190-05:00Ron, Great information. Do you know of any restric...Ron, Great information. Do you know of any restrictons the purchasing entity has regarding the disposition of the non-performing assets?<br />Tim Moriarty<br />214-206-5484tomoriartyhttps://www.blogger.com/profile/15653506355146340768noreply@blogger.comtag:blogger.com,1999:blog-3176719802547449309.post-45652270923555007912010-01-14T15:26:11.356-05:002010-01-14T15:26:11.356-05:00Ron,
One thing to consider on the Starwood acquisi...Ron,<br />One thing to consider on the Starwood acquisition is the loans had been written down significantly before Chorus went under. Also they only had to come up with 6% of the capital the rest was a loan guaranteed by FDIC and FDIC equity. If they do become the benchmark Banks will need to raise significant capital to absorb these losses.<br />Mike Conaghan<br />(608) 233-1479Mike Conaghanhttp://www.lindedin.comnoreply@blogger.com