Bank of America purchased LaSalle Bank. How do I find out whether BoA discounted L's notes?
Specifically, I have a mortgage with LaSalle ($13.5 million). I want to know if BoA paid LaSalle less than the $13.5m for the note. Is this public knowledge, and how can I find it.
Answers
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readytoretire answered one year ago …
Here http://library.corporate-ir.net/library/71/715/71595/items/241017/LaSalle% 20IR%20final%20Print%20Pack.pdf. They have apage that compares the LaSalle purchase with other deals. They show that they paid 2.2 times book value or 3.4 times tangible book value. That would imply that there was little discounting. And even if they did, it is generally applied to the whole, not specific loans. And having acquired the note, BOA will still expect full payment from you. I have known many loans bought at a discount and the borrower still having to pay face value.
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