CARMEL, Ind. Conseco Inc. is vehemently denying a media report that its loss-mitigation practices are hiding bad loans that could cause the company trouble.
A Conseco spokesman said that the report, which appeared on TheStreet.com, was propaganda supporting short-sellers of his companys stock. We will continue to answer absurd claims until there is no longer an upside in misinformation, he said in a statement.
The spokesman said that Consecos loss-mitigation practices are time tested in the industry, and that the best-performing companies are those that most successfully utilize these techniques to keep loans performing.