Interesting Managing Director Interview, page-2

In this interview Keith John briefly mentions that this purchase of largely performing PDPs is a new phase in this industry. I have to admit this is the first time I have seen purchases of this nature occurring by PDP purchasing companies. I could be wrong but I have not seen it mentioned by any of the others and I confess to being a holder of CCP shares as well. Anyway it does mean that it requires a new model for the pricing as can be seen by the much higher 45c in the $1 paid against the traditional 10-15c for the non-performing PDPs of less creditworthy debtors. I guess it is easy to create models working off PNC's own performing arrangement portfolio or the banks involved would hand over payment data history to enable buyers to form am assessment of what to offer. I look forward to seeing how this pans out for PNC and the volume of debts of this type which the market has available.