Monday, April 23, 2012

Another AJ shortfall - MLCFC 2007-6

The two MSKP Retail Portfolio loans in the deal, owned by MS RE Fund V and  Kitson&Partners, were modified into A/B notes resulting shortfalls totaling over $500k last month that ate into the AJ bond.
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4 comments:

crabsofsteel said...

this shortfall will be permanent. that makes MLCFC 2007-5, 6 and 7 all shortfalling to AJ, which tells you something about Countrywide origination.

April 23, 2012 at 8:20 PM
Dark Space said...

Wouldn't it be just a perfect storm if the Originator, Underwriters, and at least one of the other parties (Trustee, Servicer, Paying agent) in every single one of these MLCFC deals had merged together into one big failure of a company, kind of like the super-flu instead of a room full of kids with a cough, and then... oh, wait.

April 24, 2012 at 11:54 AM
crabsofsteel said...

Yes, it would be called the Federal Reserve. How on earth can they not lose money if they took down the AIG bonds at par which are being talked low 60s?

April 24, 2012 at 9:32 PM
Dark Space said...

Ha. I was thinking BankofAmerrillWide, but you really took it to the next level.

April 25, 2012 at 11:18 AM

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