JPMorgan's removal of a loan from $1B CMBS raises questions

04/18/2012 | Wall Street Journal, The

JPMorgan Chase has removed a $49 million loan on a retail center in Florida from a $1 billion issue of commercial mortgage-backed securities it is bringing to market this week. The 183,000-square-foot property, the Glades Plaza and The Commons at Town Center in Boca Raton, had been facing a foreclosure action before it was refinanced. The parties declined to comment on why the loan was removed from the CMBS. Scrutiny has been growing on CMBS as lenders relax underwriting standards.

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