Beauty (ugly) contest for worst originated CRE loans in 2006! Distressed CRE borrowers submit yours!
Any distressed CRE borrowers out there, lets have a look at yours-confidentially!

First candidate...a few snips from a PNC loan on a student housing complex done in 2006. Have you ever seen an appraisal give such dire warnings? Guess what? The loan was still sold!! Compare the appraisal values!
http://i.imgur.com/orHgZwQ.png
[{"id": "d4wqbzb", "text": "This narrative speaks to condition.  Condition is one of the least regarded of the 5 Cs of credit.  Sadky, this doesn't surprise me at all.", "replies": [], "depth": 1}, {"id": "d4x4885", "text": "That's fucking insane ", "replies": [], "depth": 1}, {"id": "d59slwo", "text": "who was the lender o_0\n", "replies": [], "depth": 1}, {"id": "d5bvlba", "text": "PNC, then their affiliate took over the servicing and it doesn't look like they reported the discrepancy.", "replies": [], "depth": 1}]