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?

1 comment:

Concrete Jungle said...

The deal sucked from the get-go, and although it is not the worst CMBS deal from the last 24 months, it is way up there (only a hair better than GG10).

It was a TOP story in Bloomberg today, and it bears the blame for today's widening.