Friday, March 12, 2010

Stuytown Remit - no shortfall, yet...

From BBG, no link:

  • The paid through date is Feb 8, 2010.
  • Servicer advances full amount
  • CWCapital continues deed-in-lieu discussion
  • Remaining reserve is $29,625
  • No word on the transfer tax, appraisal, or environmentals

2 comments:

RJ said...

why did CW post the full amount if they know there is a huge value deficiency?

crabsofsteel said...

There was a remark by the special that reserves were being swept to make the debt service payment. It looks as if there are now $4MM in advances. RW, those come from the master servicer and not CWC and are recovered on loan correction or liquidation.

* No word on the transfer tax, appraisal, or environmentals

No appraisal or inspections yet, but it had been stated that the transfer tax was being advanced by the servicer (thus being paid by the trust). I think the amount is greater than the $4MM shown this month, so it may not yet have actually been paid.