Wednesday, September 2, 2015

GMACC 2006-C1: mod, then balloon default

Transaction: GMACC 2006-C1
Property: Mission Greensboro Apartments
City/State: Greensboro, NC
Property Type: Multifamily
Balance: $20,333,066    
Percentage of Deal: 2.62%
Maturity Date: September 1, 2015
MS: Berkadia Commercial Mortgage
SS: LNR Partners
Reason for Transfer: Maturity Default
On Servicer Watchlist Prior to Transfer: Yes; 7/1/2015
Previously in Special Servicing: Yes
Previously Modified: Yes

2 comments:

Anonymous said...

What data source do you see the transfer? How do you know it didn't pay off on 9/1? Next tape is 9/10

crabsofsteel said...

There is a mailing list for deals rated by Fitch, who sends out these notifications whenever a loan over $20MM gets transferred to special servicing. If you can not find the list, send your email address to me at herespapa@yahoo.com and I'll get you on it.