Originally Posted by
sailingfun
Did you discuss the issue of pay on the CDO's. If it is not pay and full credit then it would be a no on my part. That would be a precedent we should not set. I have a call into my rep on the issue but no reply yet.
I'm not sure I understand how it works, but I think you are right pay
and credit. So I think it puts you over guarantee on reserve starting with the first COD.