| 1 E - DSCR < 1.10. The loan is secured by a 304 unit multi-family complex in Fort Washington, MD built in 1965 and renovated in 2005. The property was last inspected on 12/03/08 and received a rating of Good. Loan was placed on the watchlist due to a YE 2008 NCF DSCR of .99 with an occupancy of 88%. The decline in NCF was a result of an EGI decline. 2008 EGI had declined 21% from YE 2007 due to an occupancy decline and lower GPR. Historical occupancy has ranged from mid to high 90 percentile until Q4-2008 where it dropped to its current level of high 80 percentile. The Q2-2009 financials have been received and analyzed. Q2-2009 NCF DSCR is 1.20 with an occ of 92.43%. Loan will be removed from the watchlist with Sept 2009 reporting.
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