That quiet sound of nothing really going on is the nonperforming loan market. We continue to hear reports that plenty of NPL packages are being offered, but when it comes to actual sales, that’s another matter. Maybe our sources are off base, but when’s the last time you saw any type of news that a $500 million-plus package of residential NPLs changed hands? Now that we’re officially in a ‘double dip’ housing recession, NPL sales could get even trickier. Here’s why: sellers are not cutting their asking prices much, and bidders think sellers have crazy expectations. After all, home values during ‘The Great Recession’ have fallen more than in the Great Depression. That’s saying something…
Processing Content
