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Exact(31)
Both have written off the entire value of the loans.
The cash adjustment is straightforward and the value of the loans to customers is reasonably solid.
And the dollar value of the loans declined by more than 7percentt.
The companies typically collect a percentage of the value of the loans they service.
Importantly, however, it also greatly understates the broader value of the loans: The money helped many recipients to survive.
It didn't look like a clever move at first: the value of the loans fell even further.
Similar(26)
Savills charges a fee of up to 1percentnt of the value of the loan.
Bank of America officials said the maximum reduction would be 30 percent of the value of the loan.
The new premium will be 2.25 percent of the value of the loan, up from 1.75 percent.
The total cost includes many fees, which can reach up to 2percentt of the value of the loan.
When borrowers don't repay, their gold can be easily sold for more than the value of the loan.
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