Wednesday, September 15, 2010

Kelly King (BB&T) on CNBC

Some interesting thoughts on how they are selling loans and how they account for losses on loans at about the 6-minute mark (initially take about a 20% hit as a loss when the loan becomes non-performing, then take the next steps with the borrower; end up taking about 40-44% loss on those loans they can't work out and end up selling, according to King).