Monday, November 17, 2008
Is the 2008 Vintage too young to be a delinquent? -- JPMCC 2008-C2 says no
The #1 and #3 loans in JPMCC 2008-C2, together accounting for nearly 20% of the deal, are both delinquent 30+ days as of this past Friday.
What do you do if 20% of your deal defaults inside the first 12 months? Do you call it Subprime CMBS?