Friday, October 21, 2016

WBCMT 2007-C30: 2% previously modified into A/B notes goes back for more

I wondered why S&P has the AJ class of this deal rated at D even 
though it is current with respect to P&I and has 16% credit support.  
Maybe S&P knew something I didn't!

Transaction: WBCMT 2007-C30
Property: NJ Office Pool
City/State: Multiple Cities, NJ
Property Type: Office
Balance: $ 62,118,000 ($21,168,000 B-Note) 
Percentage of Deal: 1.37%
Maturity Date: February 11, 2017
MS: Wells Fargo
SS: CWCapital Asset Management
Reason for Transfer: Imminent Monetary Default (Balloon/Maturity Default)
On Servicer Watchlist Prior to Transfer: Yes; 10/11/13 
Previously in Special Servicing: Yes; Returned to Master Servicer 8/23/13
Previously Modified: Yes; Hope Note Created

Transaction: WBCMT 2007-C30
Property: NJ Industrial & Office Pool
City/State: Multiple Cities, NJ
Property Type: Industrial & Office
Balance: $33,352,000 ($11,552,000 B-Note)
Percentage of Deal: 0.73%
Maturity Date: February 11, 2017
MS: Wells Fargo
SS: CWCapital Asset Management
Reason for Transfer: Imminent Monetary Default (Balloon/Maturity Default)
On Servicer Watchlist Prior to Transfer: Yes; 3/11/14
Previously in Special Servicing: Yes; Returned to Master Servicer 2/12/14
Previously Modified: Yes; Hope Note Created 

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