Npl, «builg» risk for a loan market that does not; achieve


Debtors who can not get anyone to talk to them. Even when it looks like it's weird but it's a? happening) they would like to pay. Magistrates who are
to dispose of the property because those who do not want to delete them; manage unfunded loans to pay the outstanding donations. They are things
end, which was reported to the "24 Month Unit", but just talk to anyone who needs to deal with the world of bad loans
to find out that there is a problem right: the banks have a huge deal of Npl (more than 100 billion in sales
years), but the resources they have bought are not too often getting adequate resources for their management. Institute
Credit will have clarified their budgets, but the number of loans with a problem is free from being cheap. there was
just moved. And considering behind behind bridges (known as FAR) are families, businesses and people,
some questions need to be porsela: how many of the leaked loans have been in good hands?

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Just a few numbers, processed by the Unit 24 Months, have some doubts: the first seven non-bank services operate
in Italy (these are the names of companies that work specifically for depressing loans with difficulty on behalf of investors
purchased from banks) from the end of 2016 to the end of 2018, the working concern found 73%, but they have increased
The staff is only 21%. They have doubled virtually the Npl to be ruled (from 139 billion at the end of 2016 to 241 by the end of 2018),
but they did just a bit more than the staff responsible for doing so. This will push the services from one side to do more
Legal, prompt and legal legal modes (legal orders and legal actions by hitting drum), on the other – in some cases
– Trying the money bought by the Npl to repart pieces of their poles to other reserves just for "negotiation"
financial performance. In short time: trade in Npl.

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The big game
«The place to be». In July 2017 Pwc's analysis was described in Italy: "The place to be". In effect, the banks
They sold a lot of bad loans and, when they were tough, b> # 39; they had to do so at bargain prices. so
Worldwide investors have gone to this market: international names such as Fortress, Pimco, Crc, Bayview,
Anacap, Cerberus, Bain Capital Credit, Finance Finance or Varde partners, but also the specific areas of investment banks,
up to Italian investors such as Algebris or the historic Bank of Ifis. «A feeling – a & # 39; Monitor a long-term employee
A course that is unfamiliar with people – a & # 39; meant that many of these topics had a significant financial and environmental logic:
they've been capturing so much of Npl & # 39; as possible, not to worry about how to handle them. "

Once the packages with fishing problems were purchased, these browsers provided them to the service users (sometimes they were,
also purchased with the NPL at the banks, sometimes by order) for real debt collection operations. The problem
and the servicers did not get a lot of awkwardness to rule. And it's not easy to increase staff. Cerved,
The second largest in Italy, in the end of 2016 he held 15.5 billion Npl in an administration with 813 people. Today, it regulates 41 billion Npl (almost
triple), but staff have only risen to 1,230. Do Bank, a number in Italy in the department is now linked to the Italfondiario,
it has maintained a sustainable source (about 80 billion), but has reduced staff from 3,800 in 2016 to 3,000 units today.
Credito Fondiario (also a major service provider) has increased NPL from 6.7 to over 50 billion, with staff
from 110 to 250. Indeed, these companies, and all of them in business, are & # 39; focus on efficiency and technology. but
some "inconvenience" problems – especially in the smaller and younger subjects – a danger.

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"All services have insufficiently wide shoulders to invest in staff and technology to guide more areas
as soon as ", affirming Andrea Mignanelli, director of religious belief management." The essential staff
depending on the type of loans – which explains Guido Lombardo, Fundamental Credit Officer of Fondiario -. Some companies
expand the structure with attention and the appropriate IT tools, as long as I believe others have done
The longest step of the leg ".« The main problem is technology – adding Antonella Pagano, Business Development Director
Italian Intercontinent -. To manage Npl you need a high tech infrastructure to upload documents. "This just point is:
Everyone who seeks collaboration and efficiency, but not everyone can. Some service users also give hundreds to each individual manager
of debtors to continue, and make it almost impossible to take care of everyone.

Npl in bubble smell?
The problem often comes up against the river, in the diligent diligence that is going on; given. When a Npl sales bank is the source of interest in buying
They will evaluate the packages (and future collections) for the servicers. "This creates a possible conflict
of interests ", which shows Paolo Sgritta, managing director of Sistemia. Because it causes the servants to be committed and respected
high performance, hopefully purchase the portfolio property and then give it to the same servicekeeper. "This broke
lately some of the slaves were killed, "said Scritta. Indeed, many experts say that in some of them
NPL sales, a competition between the assets have become so wild, NPL prices have risen. Little, honored
quality of credit.

According to Banca Ifis information, the average price growth of mixed credit records (mortgage and non-conduct) in Italy
from 19% of the total value in 2017 to 28% in 2018. «Especially in 2016 and 2017 we have seen competitive sales processes
of Npl finishing at prices totally out of its & # 39; market, in our opinion – says Claudio Manetti, Chief Executive
of fire -. This is so talk, "to wake up" of these kinds of things. "Many of the assets are" bought "for purchase
Npl to maximize the majority, grow rapidly. As Italy is the "residence". But faster or beyond the knots
of the Npl major band tend to come to date: "The money has come to Italy with a view of huge benefits,
but I think that everyone does not like that, "says the department's principal manager. In addition, he met in the past.

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A market for figures
And here, the donkey falls. In the middle of her & This is a monster, it is possible that someone has been disrupted to make the "changes"
financial records by selling some parts. In a short time: by trading Npl. "By selling some packages
the overall financial performance of the whole department has been improved ", the service server only recites. It is also possible for this
a "secondary" market of loans that do not carry out their & # 39; development: market where banks do not sell,
Only the same money bought by the banks. According to Banca Ifis information, in 2015 and 2016 the market was made
31% and 51% of sale and total purchase Npl. In 2017 and 2018, due to large sales activity
Of the banks, the secondary market fell to 4% and 2% of the total. But in 2019, strong revival is estimated: at 39% either
Banca Ifis. In a short time: banks will not be doing almost a sale of Npl this year, but with investors who "go over"
Npl with other investors. As figures.

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Highly understood: there is usually a secondary NPL market. Those who buy Mpl's mixed pockets prefer to & # 39; sold
Some specific sections for those who are more specialized in market areas. But sometimes the feeling – discharged among the staff
at work – is the other spirit. In a short time: the "just change" displays are the "wish" or no
It's easy to do with "trademark" of Npl.

The secondary school is so sorry that it's hard to tell someone who did something like that. In fact, some of this work is
they were not informed among the owners. For example, Crc and Bayview: they first bought (with one
some of the Npl packs have been said, then they started selling them. In 2018 they sold a 425 million package
and in 2019 they sold another 2 billion package. All in a few years. Then they will be sold
6 billion Npl by Dgad International (of the Credit Agricole group). Anacap property instead places a change in service,
move to Sistemia, because the previous one (who is hard to understand) did not warrant appropriate displays. but
The IFIS bank itself is very active in the secondary market, with a large sale of Npl at the end of the year.
"This is" folders "of packages that we will not work now," they are interpreted by Bank Ifis. After that, there is still one question: yes
Will this affect the families and businesses behind the Npl? It's hard to see. In fact it is bigger
publicity (and management) in this area would not hurt.

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