Friday, October 12, 2012
Who wants to contribute?
It's painfully apparent that we've gotten pretty busy lately and are posting less. Although we hope that posts will pick up again in a few weeks, it seems like a good time to ask if anyone else would like to be a contributor.
The pay is $0. Shoot me an email at credarkspace@gmail.com if interested.
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5 comments:
Contributing, posting, what's the difference? Pay is the same for both!
Posting comes with additional benefits, but the value equals $0.
You applying? ;)
I prefer to lurk in the shadows, just coming out once in a while to shine a light on things. Three 2006-7 JPM deals got spanked this month by large loans getting hit with ~100% losses. Sure enough, the sell-side is talking CB16 B where it was last talked in the L60s, even though its interest will get cut off next month if nothing is liquidated.
Now here's a good one. The Stuy Town tenants association wants to go over CwCapital's head and negotiate a loan payoff directly with the bondholders. I can't wait to see what happens if senior bondholders in Stuy Town deals try to do this. And I can't wait to hear what the tenants assn. says when they find out they owe back interest in addition to the 3bb of principal.
Is there anyone alive at Aviva Life? They own eight digits worth of what looks like yet another toxic AJ, CSMC 2007-C1, which is paying 3% of the interest it should be paying. This bundle of joy has 4 out of its top 10 loans with the special servicer, one of which is freshly delinquent and which, upon re-appraisal, will send interest shortfalls into the AM class. Eight digits of which are owned by two other insurance companies. Can anyone figure out which ones?
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