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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (211518)	7/21/2009 12:51:21 PM
From: CalculatedRisk	Read Replies (5) \| Respond to of 306849

Check out the vig on the CIT loans: "The Credit Facility has a two and a half year maturity and bears interest at LIBOR plus 10%, with a 3% LIBOR floor, payable monthly. It provides for (i) a commitment fee of 5% of the total advances made thereunder, payable upon the funding of each advance, (ii) an unused line fee with respect to undrawn commitments at the rate of 1% per annum and (iii) a 2% exit fee on amounts prepaid or repaid and the unused portion of any commitment." sec.gov This was being touted as public sector solution - yeah, like visiting the local loan shark.