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Springleaf Holdings and the Re-Emergence of Sub-Prime Consumer Lending

Springleaf Holdings and the Re-Emergence of Sub-Prime Consumer Lending

Regarding the $2.82bil in unpaid stability (UPB), $2.6bil is present as of 30 June, while at the very least $450mil associated with the $677mil credit-impaired loans are present. This will be critical because these loans had been bought at

63 cents in the buck ($755mil reasonable value on UPB of $1.2bil)

The company’s legacy real-estate portfolio The biggest part of Springleaf’s asset base is its property loans, that have been being held at $8.46bil at the time of 30 June versus an unpaid stability of $9.93bil. This distinction of approximately $1.5bil represents a “push down” accounting therapy.

Whenever Fortress bought Springleaf from AIG this season, it used accounting that is purchase and thus current loan loss reserves had been destroyed and the net finance receivables were marked at “current market value, ” hence reduced by almost $2.5bil. (Leer más…)

Escrito por | 9 de septiembre de 2020 | 0 comentarios
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