Saturday, October 16, 2010
Assignments to Wells Fargo Foothill
A quick search of the Harris County (TX) Clerk's Office website shows that RE Loans assigned its interests in the Bravo Marshall development to Wells Fargo Foothill (pasted below). It's not difficult to track down these assignments to WFF. REL noteholders were led to believe that each and every loan was assigned to WFF. Is this the case? If not, why would B-4 Partners exclude certain properties from the deal with WFF? If there were certain properties not assigned to WFF, where did they go and who got them? Could they be viewed as preferential payouts to preferred investors? What makes one investor more important than another? If this happened, B-4 could be much more ethically challenged than we imagined. As we methodically work our way down the list, loan-by-loan, we'll see if this is true. If anyone has information on this subject they care to share, please do so here.