Cost Savings

Sample Defeasance Cost Savings

  AST’S COSTS COMPETITOR’S COSTS
Loan Terms   Third Parties Fees Third Parties Fees
Origination Date 1/1/2004 Accountant $3,500 Accountant $3,500
Maturity Date 1/1/2014 Securities Custodian $3,500 Securities Custodian $4,000
Defeasance Date 6/1/2012 Servicer Processing $15,000 Servicer Processing $15,000
Open Window 3 Months Servicer’s Counsel $15,000 Servicer’s Counsel $15,000
Original Principal Balance $10,000,000 Successor Borrower Legal $5,500 Successor Borrower Legal $7,500
Principal Balance at Defeasance $8,565,942 Consulting $10,000 Consulting $12,500
Interest Rate 5.00%        
Amortization 30-Year Securities Cost $9,180,474 Securities Cost $9,195,468
    Average Total Fees $52,500 Average Total Fees $57,500
Potential Residual Value $125,000 Total Estimated Defeasance Cost $9,232,974 Total Estimated Defeasance Cost $9,252,968

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