The SEC claims to be examining the bank practices of “extend and pretend” and “amend and pretend”….well about time. It is shocking that government oversight has played a blind eye for so long. Statements from banks saying that “loan accounting is and has been appropriate” is mind boggling when you see what is plainly evident.
We and many other investors and have tried in vain to work with banks and special servicers to help restructure and buy loans with some success but mostly frustration. The financial system is gleaning massive fees by delaying and stifling the Commercial Real Estate industry.
Read the Article
No comments:
Post a Comment