- New Book by Edward I. Altman and Edith Hotchkiss titled "Corporate Financial Distress and Bankruptcy: Predict and Avoid Bankruptcy, Analyze and Invest in Distressed Debt"
- New book on investing in Pre-foreclosure properties…
- The European Central Bank looks at Mortgage indebtedness and household financial distress globally. A working paper series published in Feb 2010.
- Is the Fed taking us in the wrong direction?
- Foreclosures, REO’s, Bank Note Purchase, are these the investment opportunities for you?
FDIC Helps Lenders Take New Approach to Handling Distressed Debts and Non-Performing Loans
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FDIC Tries New Approach To Sell Mountain Of Dead-Bank Assets – UPDATED
June 27, 2010 | by Anusha Shrivastava – Dow Jones Newswires
NEW YORK -(Dow Jones)- As they did two decades ago, U.S. federal regulators are holding a mountain of assets seized from failed banks. This time, however, they are relying more on the private sector to hold and sell more of the $600 billion in dud loans, foreclosed buildings and other assets.
Rather than try to sell most of the assets itself, as the government did in the early 1990s after the savings-and-loan crisis, the Federal Deposit Insurance Corp. is passing most of them on to the private institutions it signs up to take over failed banks.
For those assets it must sell itself when it can’t find a buyer for a failed bank, the FDIC is hiring auctioneers, recruiting investors directly and even creating its own asset-backed bonds to try to wring out the best prices it can.
James Wigand, deputy director of the FDIC division in charge of the asset sales, said many FDIC staff members, including himself, are veterans of the previous crisis and “remember what worked well and what didn’t.”