Archives for 2010

“I think 2010 will be noted as the turning point for commercial lending after the financial market collapse that began in fall 2007 and resulted in little commercial lending for the most part of two years,” according to Michael D. Sneden, Executive Vice President at ValueXpress. In 2010, a boost to … [Read more...] about 12.31.10: 2010 Highlights in Commercial Lending

The Business Council of Westchester County, NY has announced that Michael D. Sneden, Executive Vice President at ValueXpress, will be the keynote speaker at its Business After Business social networking event beginning at 4:30 pm, Thursday, January 20, 2011 at the Crown Plaza Hotel on Hale Avenue in … [Read more...] about 12.27.10: Michael Sneden Keynote Speaker at January 20th Business After Business Social Networking Event

Another potential lift in SBA lending may arise from a provision in the Jobs Act that allows for the refinancing of loans using the SBA 504 program. Prior to the legislation, projects were ineligible to utilize the SBA 504 program for refinancing; now the program can be used for refinancing 504 … [Read more...] about 12.21.10: Will Refinancing of SBA 504 Loans Take Off?

The deadline for SBA 7(a) loan submissions under the Small Business Jobs Act of 2010 for non-Preferred Lenders Program (PLP) lenders was 11:00 p.m. EST on December 15, 2010 for lenders using E-Tran. In what seems par for the course, ValueXpress and its partner banks -- Country Bank based in New York … [Read more...] about 12.17.10: ValueXpress Processes $15-Million in SBA 7(a) Loans Before Cutoff

Commercial Mortgage Alert reports that Goldman Sachs and Citigroup have priced an $875.5-million CMBS transaction backed by commercial mortgages they recently originated. GS Mortgage Securities Trust, 2010-C2 will likely be the last multi-borrower transaction for 2010. The issue has a heavy … [Read more...] about 12.16.10: Goldman Sachs and Citigroup Price $876.5-Million CMBS Offering

Tightening credit spreads for U.S. CMBS since the highs reached in the first quarter of 2009 should continue to spur new CMBS issuance in the near term, according to Standard and Poors (S&P). The agency notes that issuance for the fourth quarter of 2010 could fall within $4-$8 billion, the … [Read more...] about 11.26.10: $35-Billion U.S. CMBS Issuance Forecast for 2011

A traditional strategy for reducing portfolio risk is to tighten lending standards and reduce availability of credit. This strategy is particularly harmful to small businesses that rely heavily on access to debt for sustainability and growth. The 7(a) program allows banks to have the best of all … [Read more...] about 11.22.10: Banks Can Use the SBA 7(a) Program to Reduce Portfolio Risk

Third-quarter loans for conduit CMBS grew 940% compared with the same quarter of 2009, according to the Mortgage Bankers Association's Third-Quarter Origination Survey. The average third-quarter 2010 loan size was $30.5 million versus $18.2 million a year ago. The average conduit loan size in the … [Read more...] about 11.16.10: CMBS Deal Flow Picks Up According to Recent MBA Survey

As part of a new rule change, the SBA is removing the 90-day warranty period from Form 1086, the participation form required on SBA 7(a) loan sales. While the warranty is in effect, the seller is prevented from taking sale treatment, in accordance with FAS 166, for 90 days. The changed form is now … [Read more...] about 11.10.10: SBA Form 1086 Warranty Period Removal to End the Delay in Sale Treatment