Re:Neiman Marcus files for bankruptcy
by takeda on Thursday May 07, 2020 @04:03PM
(#23107570)
When I got a mortgage and refinanced. In both cases shortly after I got letter that my debt was purchased by someone else and from now on my payments supposed to go to a different company.
I suspect it is similar here. They make the loan then sell it to someone else.
Re:Neiman Marcus files for bankruptcy
by whatok on Thursday May 07, 2020 @04:08PM
(#23107628)
That's very different than the Enron-esque transaction described above. You are describing two separate companies. They're saying that some "shell company" takes a loss while the parent company makes all the profit.
I suspect it is similar here. They make the loan then sell it to someone else.