Tuesday, Jul 22, 2008
A pretty desperate way to run a business.
BBC News: 'Take cash and leave' says lender
A former sub-prime mortgage lender is offering an 8% discount to its borrowers if they redeem their loans.
A spokesman admitted the idea sounded "bizarre" but it was cheaper than selling the loans in any other fashion.
Posted by gardeniadotnet @ 07:24 AM (837 views) Add Comment
6 Comments
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1. alan said...
You just beat me to the posting. I think this could be the first of a new trend.
2. p. doff said...
''Edeus says it is staying in business until the market revives by offering mortgage advisory services to other firms in the industry.''
Now pay attention and sit up straight. Our advice is ....erm.... to avoid doing what we did.
3. sosoon said...
When you’re a sub prime customer and you go into negative equity your lender is reminded why you are a sub prime customer with a set of house keys
Although I would not promote these guys as clever they have worked out what’s coming
4. malct said...
took a look at Edeus website - laugh?
edeus was launched in September 2006, bringing together some of the leading experts in the mortgage market, committed to transforming the intermediary sector with a new and groundbreaking experience,
http://www.edeus.eu/aboutus.aspx
and the rogues gallery here
http://www.edeus.eu/ourpeople.aspx
5. p. doff said...
Didn't I read that Edeus are going into debt management. I suppose they could be capitalising on an 'emerging market' that they helped to create.
6. malct said...
Mortgage market specialist Edeus is launching an asset quality assessment service that aims to help investors understand fully the current risk in mortgage-backed asset pools by assessing 100 per cent of the mortgage pool and taking into account up to date credit information on borrowers and underlying assets.
http://www.hedgeweek.com/articles/detail.jsp?content_id=254857