QUESTION 11 Consider a CMBS backed by a 80% LTV loan of a S50.000.000 office building. The loan is interest only with an 8% mortgage rate issued for 3 vears with monthly payments. The CMBS is issued with 37.5% subordination with a coupon rate on the senior tranche equal to 5% and coupon rate on the junior tranche equal to 7%. An interest only residual carrying no principal will be issued as well (Same as Questions 9 and 10). Suppose that in month 15 the borrower defaults on the underlying loan. After foreclosure 60% ofproperty value is recouped. How much does tranche B receive in month 15? Assume that all the interest was paid for the month of default. Click Save and Submit to save and submit. Click Save All Ansvers to save all answers Save Al Answers QUESTION 11 Consider a CMBS backed by a 80% LTV loan of a S50.000.000 office building. The loan is interest only with an 8% mortgage rate issued for 3 vears with monthly payments. The CMBS is issued with 37.5% subordination with a coupon rate on the senior tranche equal to 5% and coupon rate on the junior tranche equal to 7%. An interest only residual carrying no principal will be issued as well (Same as Questions 9 and 10). Suppose that in month 15 the borrower defaults on the underlying loan. After foreclosure 60% ofproperty value is recouped. How much does tranche B receive in month 15? Assume that all the interest was paid for the month of default. Click Save and Submit to save and submit. Click Save All Ansvers to save all answers Save Al Answers