medium · Asset-Backed Securities
A CMBS loan of 15,000,000 is 60 days delinquent. The special servicer obtains a new appraisal of12,000,000.
If the disposition cost estimate is 10% and there are no outstanding advances, what is the Appraisal Reduction Amount (ARA)?
- $4,200,000
- $4,500,000
- $3,000,000
- $1,200,000
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