November 2014 Remittance – Day #1
Hopefully most people will have started their Thanksgiving holiday, so we will leave all the details until next week. Today, we present an interesting story on one (1) loan that highlights seven generally unanswered questions. Providing detailed answers to these questions is what makes us valuable to our clients.
Questions
1. Who is servicing the loan?
2. How did the deal take such a high loss severity?
3. What are the unreimbursed advances and expenses outstanding?
4. Are the advances and expenses reasonable?
5. What is the priority order in the application of liquidation proceeds?
6. Why did it take so long for the deed to get recorded and the loss to be passed through to the Trust?
7. What did the Trust actually get paid?
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