--2 Thornburg Fire Sale Concludes
         
Feb. 14, 2016

Thornburg Fire Sale Concludes

February 5, 2010, 12:00 am
By Corey Pein
According to today's Wall Street Journal (subscription required), Thornburg Mortgage's $11 billion loan portfolio has found a buyer:
Select Portfolio Servicing Inc., a Salt Lake City mortgage-servicing business owned by Credit Suisse Group (CS), won the auction for Thornburg's portfolio with a winning bid of about $95 million, according to Joel Sher, the failed lender's Chapter 11 trustee.

If this summary of the Better Business Bureau file on Select is accurate, the sale could be bad news for homeowners who took out loans with Thornburg, which before its bankruptcy last year had a pretty good reputation for customer service:
“Based on BBB files, this company has unsatisfactory record with the BBB due to unanswered and unresolved complaints.

"The BBB processed a total of 136 complaints about this company in the last 36 months, our standard reporting period. Of the total of 136 complaints closed in 36 months, 59 were closed in the last year.”

 

comments powered by Disqus
 

Morning Word: State Budget Woes

Land commissioner suggests raising gasoline taxes

Morning Word As the price of oil dropped to $26.19 a barrel on Thursday, Sen. Finance Chairman John Arthur Smith says the state budget will likely have to be cut again.  ... More

Feb. 12, 2016 by Peter St. Cyr

Newsletters

* indicates required
Choose your newsletter(s):

@SFReporter on Instagram

 

 
Close
Close
Close