Thursday, November 4, 2010

PCV/ST 6.67% loss projected by Appraisal

Not too shabby. Does this mean that the ASER will be that low? Probably not - they're still short 40% or so of the monthly debt service.

3 comments:

crabsofsteel said...

the ASER came in at 20.5%. CMBX 07-1 AJ promptly tanked.

Dark Space said...

Ouchy - so, do the servicers push the shortfall up to the AJ level, or do they try to keep it artificially lower on the deals where that is actually a realistic threat in the next quarter or two?

That's my next question.

CMBX.3 (07-1) is off to 75, versus 69.5 CMBX.4 (07-2), and were at 80.25 and 75.25, respectively, on 11/5 (everything took a dump on the 10th). I'm not sure one got hit more than another. I think the only Stuy town exposure is in CMBX.3 (via MLCFC 2007-5)& CMBX.4 (WBCMT 2007-C31)...

crabsofsteel said...

since stuy town is at most 18% of any one deal, new shortfalls were not that severe, only pushing them up a class or two in deal with a note from this loan in it. The deal which has the most Stuy Town is WBCMT 2007-C30, not in CMBX but right between CMBX 3 & 4