Larger commercial mortgage-backed securities deals are starting to come back to the market just 15 months after a few smaller transactions priced following a period of dormancy, according to an S&P research note this week. The return of the market, referred to as CMBS 2.0, began in late 2009 … [Read more...] about 2.28.11: S&P: Larger CMBS Deals to Market after Period of Stagnation
Archives for February 2011
The Obama Administration seeks $818 billion for small-business programs, including the 7(a) program, in its 2012 budget that will begin in October 2011. This total is just over half of what it received for these programs in 2010, when the agency was flush with supplemental stimulus money to spur … [Read more...] about 2.23.11: What Obama’s Budget Means for the SBA
The SBA's 504 refinancing program has finally been implemented. It gives owner-user commercial real estate owners with existing mortgage loans facing imminent loan maturity or balloon payments the opportunity to refinance with a government-guaranteed SBA 504 loan. Some of the program parameters are … [Read more...] about 2.18.11: SBA 504 Refinancing Is Official!
CDC Direct Capital has announced an SBA 504 Secondary Market solution with the Morgan Stanley SBA 504 First Mortgage Secondary Market Program. This program enables a bank to sell the entire first mortgage on any SBA 504 loan. Morgan Stanley is offering a 100% loan purchase program pertaining to the … [Read more...] about 2.17.11: Morgan Stanley and CDC Direct Team Up
The prognosis for CMBS conduit loan origination in 2011 and beyond was discussed at this year’s MBA CREF convention by three of the most active originators of CMBS loans right now, Richard Schlenger of Citigroup, Roddy O’Neal of Goldman Sachs and Dennis Schuh of JPMorgan. In addition, Warren DeHaan … [Read more...] about 2.10.11: CMBS Conduit Loan Origination in 2011 & Beyond: Report from the MBA CREF Convention
Form 1086 has been updated to include clarifications to prevailing program rules along with additional lender certifications. In a program notice to SBA employees and SBA Lenders, the SBA updated Form 1086, Secondary Participation Guaranty Agreement (Form 1086) that is used in the 7(a) loan program … [Read more...] about 2.4.11: SBA Removes Warranty Period for Loans Sold at a Premium in the Secondary Market
On the heels of a CMBS industry conference where cautious optimism was the common theme, and a week in which several new CMBS deals were announced, a record setting delinquency rate of 9.34% for January indicates that the CMBS market still has some ground to make up, according to a report from … [Read more...] about 2.1.11: Trepp Reports Delinquency Rate Reaches Another Record High