We fund CMBS workouts. We've seen the first wave, and the next is coming.
There are approximately 1200 commercial mortgage loans totaling $17.3 billion scheduled to mature in 2013, which represents a tremendous opportunity. We can finance both note purchases and discounted payoffs for you and your clients. For example, one of our recent loans facilitated the purchase of a commercial note at more than 50% off the face value.
The first wave of modifications has already hit the beach. Be prepared for the next, and give me a call!