Certainly does not sound outrageous as IIF has one of the better SP to NTA ratios going around. As I have from Day 1, I have always wondered what role ING has in this.
If ING were to just refinance the debt their 18% of the Company would make them a killing. They still seem to be interested in doing fairly marginal home loans, so it does not make sense that they have not leapt to the rescue after increasing their shareholding.
