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Ulster Bank Disposing of Loan Portfolio

daltonmd · 2012-03-07 16:43:29

Not sure if this is in the right place. http://namawinelake.wordpress.com/2012/03/07/second-irish-foreign-bank-lining-up-property-portfolio-for-sale-source/ "The news that Ulster Bank was seeking proposals for the disposal of €1bn of loans-related property is sure to have unnerved portfolio managers at NAMA who are trying…

07-03-2012 4:43pm

#1

daltonmd

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Not sure if this is in the right place.
http://namawinelake.wordpress.com/2012/03/07/second-irish-foreign-bank-lining-up-property-portfolio-for-sale-source/

"The news that Ulster Bank was seeking proposals for the disposal of €1bn of loans-related property is sure to have unnerved portfolio managers at NAMA who are trying to get their heads around a strategy for the €9.25bn of commercial property loans – by reference to 30th November 2009 values, worth about €6-7bn today. With both residential and commercial prices still shaky here, the last thing the Agency needs is supply-side competition. Several Ulster Bank borrowers whose loans haven’t yet been foreclosed will also have been unnerved by the prospect – not officially communicated to them yet – of being strong-armed into selling property or accepting a transfer to new lenders."

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