4 ms·
A variation of "Buy debt at 25 cents on the dollar, collect 40 cents on the dollar in interest and fees, spend 8 cents on the dollar for high school graduates t
by patio11 14y ago
A variation of "Buy debt at 25 cents on the dollar, collect 40 cents on the dollar in interest and fees, spend 8 cents on the dollar for high school graduates to man the phones and 5 cents on the dollar for overhead.", with numbers adjusted depending on how toxic their average pool of receivables is.
- intended 14y agoIf I recall correctly, during the robo signing debacle - some banks ended up losing control/chain of ownership on those mortgages. So in that subset of cases no one even legally owns the debt, (but the banks still tried to assert control. IIRC the judicial system didn't take too kindly to their assertion)
- namank 14y agoInteresting, thanks.