Oireachtas Joint and Select Committees
Thursday, 29 September 2016
Public Accounts Committee
Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle
9:00 am
Mr. Seamus McCarthy:
It is accepted as standard that if an investment buys non-performing loans, they will buy them at a discount to the property value. When they get the valuation of a property a loan sale adviser tries to model how a purchaser might value the loans. They create their own cashflow exercise which helps them advise the seller what the market may be willing to pay for the loans.
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