A/B Tranching of Commercial Real Estate â Secured Loans: An ...
A/B Tranching of Commercial Real Estate â Secured Loans: An ...
A/B Tranching of Commercial Real Estate â Secured Loans: An ...
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What is a “Control Appraisal Event”<br />
• As noted above, a Control Appraisal Event can only arise after an<br />
―Appraisal Reduction Event.‖<br />
• These events typically include:<br />
• the expiration <strong>of</strong> sixty (60) days after an uncured delinquency occurs in<br />
respect <strong>of</strong> the mortgage loan<br />
• the expiration <strong>of</strong> sixty (60) days after the date on which a reduction in the<br />
amount <strong>of</strong> the monthly payments on a mortgage loan or a change in any<br />
other material economic term <strong>of</strong> a mortgage loan (including an extension<br />
<strong>of</strong> the scheduled maturity date) becomes effective as a result <strong>of</strong> a<br />
modification <strong>of</strong> such mortgage loan<br />
• the expiration <strong>of</strong> sixty (60) days after a receiver has been appointed<br />
• immediately after the voluntary or involuntary bankruptcy <strong>of</strong> a borrower<br />
• immediately upon a mortgage property becoming having been acquired<br />
through a foreclosure<br />
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