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February 2018 Remittance – Day #1 Observations

Attached are some initial observations. Tomorrow we will have additional thoughts and observations as more data arrives and we have more time to digest.

Initial thoughts on the Feb 2018 remit:

A Second Lien Deal was called this month - INDS 2007-2; Servicer: Ocwen. We include the PSA termination language regarding this deal as well as the final collateral statistics.

CMLTI 2006-NC2: Closely examining a 160% severity ($935k loss) due to the Statute of Limitations expiring for a mortgage backed by a multi-family property in Brooklyn, NY.

CARR 2006-NC4: A seemingly impossible $420k gain on a disposed foreclosure in Brooklyn, NY.

TMST 2007-3: Examing a $4mm+ loss (largest in all Non-Agencies this month) on a Greenwich, CT short sale. The property includes a wine cellar, home theatre, billiard room and martini lounge.

Contact us at 203-276-0672 to become a client and access all reports and attachments.

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