Monday, July 11, 2016

BACM 2007-3: 4.8% transfers to special due to borrower bankruptcy, never watchlisted

Gott in Himmel!  Do you think this transfer was reported on the July remittance for BACM 2007-3 which came out today?  Take a guess!  Several other deals had large transfers reported today; about 0.5% of the legacy market in total.

Transaction: BACM 2007-3 & JPMCC 2007-LD11 (Not rated by Fitch)
Property: JQH Hotel Portfolio
City/State: Various
Property Type: Hotel
Balance: $100,000,000 BACM 2007-3 & $50,000,000 JPMCC 2007-LD11
Percentage of Deal: 4.83% & 1.69%
Maturity Date: May 6, 2017
MS: Wells Fargo
SS: C-III Asset Management
Reason for Transfer: Borrower Bankruptcy
On Servicer Watchlist Prior to Transfer: No 
Previously in Special Servicing: No
Previously Modified: No

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