"One could well ask why were not CER/CNP offered the chance to pay down debt at the rate it was sold to the hedge funds or even a small margin on top in the first place?"
I agree..surely the bank might have got 1 cent extra by offering it to CNP in the first place!!...like, were they thinking CNP wouldn't be interested... that CNP would nt like to pay back only 56% of any its loans???
If the bank fgoes and sells my mortgage for 56% of its value, then I am buying it... no matter what I ahve to do get my hands on ownership of the loan.
ts
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"One could well ask why were not CER/CNP offered the chance to...
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