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Loan Modification

: Mortgage Lender Implode-o-Meter

World Market Center defaults on two loans totaling $564.7 million

By Implode-Explode Heavy Industries

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"A year ago, World Market Center informed the servicing agents for the two loans, totaling $564.7 million, that its declining cash flow would force it to skip payments within months. The default occurred in April, although it was only recently disclosed by outside companies that track commercial loan defaults.."

Full post as published by Mortgage Lender Implode-o-Meter on September 21, 2010 (boomark / email).

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