tag:blogger.com,1999:blog-319775530671726401.post2022378078790926621..comments2023-10-01T09:18:26.162-04:00Comments on Keith Leggett’s Credit Union Watch: Quorum FCU Restructures Timeshare Loan Program to Avoid Regulatory LimitsKeith Leggetthttp://www.blogger.com/profile/14794334790117033547noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-319775530671726401.post-21733944585073481542015-06-10T13:40:09.381-04:002015-06-10T13:40:09.381-04:00Yikes and $120M of what appears to be medallion lo...Yikes and $120M of what appears to be medallion loans bought WITHOUT recourse.<br />So much for FOM restrictions!<br />This cu has $255M in non member loans..and not exactly your "consumer, plain vanilla stuff"...and re-classifying to boot!<br />Good for them.<br />Take advantage of what you can get away with.<br />Joke.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-319775530671726401.post-61455345303297502232015-06-10T09:13:51.888-04:002015-06-10T09:13:51.888-04:00A few comments: I do not believe the loans will b...A few comments: I do not believe the loans will be able to be retroactively classified as indirect, so they still will have to sell them. Because the report is written in thousands, they will need to liquidate $91 million in vacation ownership loans. Report says they purchase at a discount of 65%-90% of face amount of loan. Not sure what discount will be applied when they sell seeing that the market is not liquid or transparent and they will be unloading $91 million at the same time. Good luck to them!<br />Anonymousnoreply@blogger.com