--2 Thornburg Fire Sale Concludes
         
Oct. 1, 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: Stolen Email Lawsuit Dropped

Morning Word A federal lawsuit filed by several people who had their emails stolen by Jamie Estrada, a former Republican operative who gained control of the Gov. Susana Martinez 2010 web domain, has been dismissed. ... More

Sept. 27, 2016 by Peter St. Cyr

Newsletters

* indicates required
Choose your newsletter(s):
August 31, 2016 by Julie Ann Grimm  
September 7, 2016 by Elizabeth Miller  
August 31, 2016 by Elizabeth Miller  
September 14, 2016 by Steven Hsieh  

@SFReporter on Instagram

 

 
Close
Close
Close