SBA Selling off loans _-Are they scared?greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
Beginning in FY 1998, and through the end of FY 2000, SBA proposes to sell its business loan and disaster loan portfolios. The loans will be sold through a series of sales initiatives in an open and competitive process, and in a manner which achieves the best value for the government. The SBA is committed to creating an Asset Sales Program that achieves the public policy objectives which are central to the SBA's core mission, but also maintains the agency's financial interests.
What does anybody make of this...trying to get rid of some major liabilities when the crash comes?
-- bill (email@example.com), February 19, 1999
Not necessarily. My Husband had some gov. Student Loans some years ago. They sold them to Citibank. I don't think it's all that uncommon.
-- Deborah (whoknows@??.com), February 20, 1999.
Yes they sell loans off but was interested in their timing...FY 1998 through FY 2000. Why not after FY 2000 but just through this time...maybe? It just seems like the timing is when everybody started questioning Y2K that they want to dump these assets before they become a big liability after FY Rollover...at which time they could become worthless pieces of paper. Just wondering?
-- bill (firstname.lastname@example.org), February 20, 1999.