Items Tagged with 'Non-performing asset'


  • Starwood Waypoint just grew its non-performing loan holdings

    REIT purchased $268.3 million in NPLs in third quarter
    "We were able to execute a complex transaction for the purchase of a unique portfolio which involved collapsing the seller’s securitization, paying off two mezzanine notes and partially paying down the seller’s debt facility," Brendan Brogan, senior vice president of acquisitions at Starwood Capital, said.
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  • The NPA numbers game

    The WSJ takes on alleged improprieties at banks, which isn't exactly a novel topic these days. The story zeroes in on the games played with non-performing assets -- a subject near and dear to HW's own editorial heart these days, given that we've been suggesting that many banks are under-reserving relative to the level of reported NPAs on the books. But when is an NPA not an NPA? Answer -- when you get to pick the definition:
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  • Downey's Option ARM Woes Continue to Grow

    Non-performing assets continue to mount at California-based Downey Financial Corp. [stock DSL][/stock], with the option ARM specialist reporting Thursday afternoon that NPAs had reached 13.24 percent of the bank's $13.15 billion in total assets -- or $1.74 billion -- by the end of April.
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  • Downey Financial: Accounting Rules Suck

    Downey Financial -- perhaps the best known of the option-ARM specialists, although there are others -- put out a press release today that said the bank's auditors, KPMG, are forcing them to book loan modifications as part of reported non-performing assets.
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