"how far off are the economics on the deals you just signed versus what they would have been say at the peak on a percentage basis."

Via Calculated Risk, an unintentionally funny set of responses they caught:

"The CRE version of stated income loans involved lending on overly optimistic pro forma income projections (aka wishful thinking), and the NegAM feature was called "interest reserves". "

Here's my response:

Don the libertarian Democrat writes:
"confutes the underwriting assumptions that prevailed in the period leading up to the last year's investment peak."

"based on rising rents and debt markets remaining stable."

Too bad they couldn't see down side of such cock-eyed optimism.
Don the libertarian Democrat | Homepage | 10.28.08 - 6:08 pm |