Post by brianlom1 on Oct 19, 2018 22:58:31 GMT
I see Michael's e-mail of earlier today is true to form:
As always with ReBS, the facts do not justify their level of enthusiasm
The worst part of it all is that, despite the fact that investors have lost significant amounts of money, this loan qualifies as one of ReBS' best results. It's one of only a handful of loans where any recovery at all has been made on a loan that has been classified as either defaulted or bad debt.
Keep up the good work ReBS, only a few dozen more late/defaulted/bad debt loans to work your way through.
- self-congratulatory for making a recovery 1,002 days late
- promising a 60% recovery
As always with ReBS, the facts do not justify their level of enthusiasm
- I can only assume the 60% recovery must be before ReBS reimburse themselves for recovery costs?
- based on today's initial payment (said to be 50% of what we'll receive), actual recovery paid to lenders will be about 30% of outstanding capital
- as for the 1,002 days worth of interest payments - we'll receive nothing
The worst part of it all is that, despite the fact that investors have lost significant amounts of money, this loan qualifies as one of ReBS' best results. It's one of only a handful of loans where any recovery at all has been made on a loan that has been classified as either defaulted or bad debt.
Keep up the good work ReBS, only a few dozen more late/defaulted/bad debt loans to work your way through.
