Relevant:
- Distressed CRE Specialist Moves into Residential Mortgages
- Fearing Losses, Banks Are Quietly Dumping Real Estate Loans - The New York Times
- MB Financial sells distressed loans to California firm
- Distressed CMBS Loans Up 41% in April, as Commercial Real Estate Prices Edge Higher
- Bank Charge-off Rate Highest Since 1992 for Commercial Banks: Credit Cards, Revolving Debt, and the Contraction of Credit.
2008-12-24 — nytimes.com
“I am being inundated with calls from banks who want to sell their loans,†said David Schechtman, a senior director at the commercial brokerage firm Eastern Consolidated. “In just the last few weeks, I have also collected a list of about 30 clients — primarily high-net-worth individuals, long-established real estate families and small opportunity funds — who want to buy up these loans.â€
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