"Realized losses for asset managers of U.S. commercial real estate loan collateralized debt obligations more than doubled in April, according to Fitch Ratings.
Analysts said CREL CDO asset managers saw $164 million in realized losses from the disposal of defaulted and credit impaired assets in April, up from losses of $73 million a month earlier.
"Many of the realized losses stemmed from foreclosure or deed-in-lieu of foreclosure actions that wiped out subordinate positions held by some CREL CDOs," said Fitch director Stacey McGovern..."
at http://www.housingwire.com/2011/05/13/losses-on-commercial-cdos-more-than-double-in-april?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+housingwire%2FuOVI+%28HousingWire%29
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