Sunday, October 25, 2009

Capmark Financial Bankrupt

Capmark Financial originates, services, and invests in mortgages for commercial real estate including office, retail, health care, hospitality, and multifamily properties. It also invests in real estate and commercial mortgage-related assets for institutional and high-net-worth investors. Capmark Financial has some 50 offices in North America, Europe, and Asia. The company originates more than $10 billion in commercial mortgages each year and its servicing portfolio has more than 48,000 loans worth approximately $350 billion. Its investment business has more than $8 billion in assets under management

(Capmark Financial Group Inc., the lender owned by firms including Goldman Sachs Group Inc. and KKR & Co)

Let's see how much this effects the rest of the players in the fraud game, 350 billion dollars is nothing to sneeze at.

This could open up a big can of worms...