Loan Think

What We're Hearing

Published May 27, 2010, 5:00 a.m. EDT

1 Min Read

If you're wondering why the sale of nonperforming loans is picking up steam this year the answer is quite simple: firms that were smart enough to buy last year (some at dirt cheap prices), want to book their gains while they can. "If you can make a return of 10% by selling right now, why not do it?" one investor told me. In the nonperforming (NPL) loan space we hear that Goldman Sachs & Co. recently bought a few NPL pools and that a unit of Cerberus Capital is eyeing deals. Cerberus, of course, still owns part of GMAC Financial/Ally Financial, which in turn controls Residential Capital Corporationâ¦

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