Old Greenpoint loans? - Posted by IB (NJ)

Real Estate Investing
1

Posted by ib (nj) on September 17, 2004 at 15:14:03:

So the loan is probably still with Greenpoint?

Thanks Matt.

Ib

2

Old Greenpoint loans? - Posted by IB (NJ)

Posted by IB (NJ) on September 17, 2004 at 09:20:45:

Hi All. I’m tracking an old mortgage that originated in 1995 with Greenpoint Mortgage Corp. It was then assigned to Greenpoint Bank (am I right to assume that the two are related?) a month later. The borrower files chapter 7 BK a year later and discharging the mortgage in the process. Payments haven’t been made since and it’s attached to a property that’s now under tax foreclosure.

Anyone know where this mortgage might be? I have Greenpoint’s research dept. looking at it but I figured I’d check with the board in the meantime.

Thanks in advance,
Ib

3

Re: Old Greenpoint loans? - Posted by Matt G

Posted by Matt G on September 17, 2004 at 11:58:10:

Ib-
Headlands mortgage out of New Jersey was merged and became Greenpoint mtg out of california - a former mobile home lender and then they opened the greenpoint bank. In their recent end of the year they had their company financials in those are bad loans and they understand the equity in them, they have rights to them even if they have been in BK. Expect to pay but I wouldn’t say its a deal killer. Greenpoint was just sold to Northfork bank but I don’t think your deal
will be affected.
Good Luck