According to Jordan Blanchard at CDC Direct, May was a very active month for SBA 504 First Mortgage Pool (FMP) originators. Four pools settled a total of just over $18 million (guaranteed portion). Total 504 FMP volume through May 2011 is $135.7 million. With 18 pools issued to date, the average … [Read more...] about 5.31.11: Growing SBA 504 Secondary Market
Archives for May 2011
5.27.11: S&P Identifies Troubling Trends in New CMBS
Increasingly aggressive property appraisals, so-called "incentive management fees" for hotel properties, and the limited return of "pro forma" underwriting are among the troubling trends that Standard & Poor's (S&P) cites as red flags in the quickly evolving revival of the commercial … [Read more...] about 5.27.11: S&P Identifies Troubling Trends in New CMBS
5.20.11: CMBS Pipeline: An Anticipated $17 Billion Through September 30, 2011
Commercial Mortgage Alert reports $17.4 billion of U.S. CMBS are in the pipeline to price by the end of September. This figure includes two multi-borrower transactions totaling $2.9 billion that are now in the market and expected to price next week. The offerings, at approximately $1.4 billion each, … [Read more...] about 5.20.11: CMBS Pipeline: An Anticipated $17 Billion Through September 30, 2011
5.18.11: B-Piece Buyers Wait on Risk Retention’s Final Act
A B-piece buyer's appetite for taking on 5% risk and the buyer's future affiliation with special servicing will depend on a final risk-retention rule required under the Dodd-Frank Act. The comment period on the banking agencies' risk-retention proposal ends June 10. According to Brian Hanson, … [Read more...] about 5.18.11: B-Piece Buyers Wait on Risk Retention’s Final Act
5.11.11: SBA and Flood Insurance – Check Private Sources in Addition to NFIP
ValueXpress recently obtained a commitment from its partner bank, Country Bank on a hotel located in Brooklyn, NY. A FEMA flood determination on form 81-93 required by the SBA found the property located in a Special Flood Hazard Area (SFHA). The SBA requires that borrowers obtain flood insurance … [Read more...] about 5.11.11: SBA and Flood Insurance – Check Private Sources in Addition to NFIP
5.3.11: Commercial Mortgage Bonds: Largest Rally Since July
Commercial mortgage bonds are experiencing the largest rally in 10 months on growing confidence that declining unemployment will boost the economy enough to stem a tide of loan defaults. Top-rated securities backed by U.S. property loans returned 1.41% in April, while AAA-ranked corporate bonds … [Read more...] about 5.3.11: Commercial Mortgage Bonds: Largest Rally Since July
