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Volume 18 - Number 6

March 21, 2014

Stream of NPL Auctions Is on the Horizon

The long-awaited auction of nonperforming mortgages by HSBC USA appears to be underway, though the bank isn’t providing much guidance on the dollar volume of loans it intends to sell this year. In early March, HSBC held a private auction of roughly $1.2 billion of NPLs, according to investors briefed on the sale. “Only a select group of buyers was invited to participate,” said one source. Rumored bidders include Goldman Sachs and Credit Suisse, among others. A spokeswoman for HSBC ...

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HUD has announced a 25 basis point cut in FHA premiums, which is slated to take effect in late January. Is your lending shop for or against a cut in FHA premiums?

For. It should help lending volumes.
Against. The private MI sector should take on this risk, not the government.
Too early to say.
I believe the new White House may scuttle the idea so it doesn’t matter.

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