Jun
02

For CMBS, ‘Worst Is Yet to Come’

By
– Wall Street Journal

In 2007, at the height of the commercial real-estate boom, Credit Suisse Group packaged 250 mortgages into bonds and sold them to investors in a $3.3 billion issue of commercial-mortgage-backed securities.

That CMBS issue has now achieved a dubious distinction: The deal is expected to see a 15% loss, the highest potential loss for any 2007 CMBS issue, according to Fitch Ratings. Overall, the projected loss rate on all CMBS issued that year in the U.S. is about 10%, Fitch said.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

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