The CMBS market suffered a setback last week when bond spreads widened sharply again. According to Commercial Mortgage Alert, the spread on the benchmark triple-A class of an offering led by Wells Fargo and RBS priced on Thursday, July 21 at 170 basis points (bp) over swaps. That was 35 bp wider … [Read more...] about 7.29.11: CMBS Spreads Blow Out; Borrowers Repriced
Archives for July 2011
7.28.11: S&P Suspends Ratings on New Issue CMBS 2.0 Deals
RBS reported that Standard and Poor’s Rating Services (S&P) announced on July 27 it will not currently assign ratings to U.S. conduit CMBS transactions, including the most recent $1.5-billion CMBS transaction offered by Goldman Sachs Group Inc. and Citigroup, Inc. that was scheduled to close on … [Read more...] about 7.28.11: S&P Suspends Ratings on New Issue CMBS 2.0 Deals
7.20.11: Inspector General Issues Scathing Audit Criticizing Banco Popular Regarding SBA Loan Underwriting
On July 13, SBA's Inspector General (IG) issued a scathing audit criticizing Banco Popular for its underwriting procedures for the Huntington Learning Centers (HLC) franchise. The IG wrote that the bank failed to properly analyze and underwrite applicant projections. This failure warrants the denial … [Read more...] about 7.20.11: Inspector General Issues Scathing Audit Criticizing Banco Popular Regarding SBA Loan Underwriting
7.15.11: ValueXpress iPad Free Raffle at Upcoming Trade Show in New Orleans, LA
After the terrific response to our iPad raffle at the Asian-American Hotel Owners Convention, ValueXpress plans to give away an iPad to another lucky winner at the upcoming Leuva Patidar Samaj of USA National Convention and Trade Show in New Orleans, LA at the Marriott Convention Center. The trade … [Read more...] about 7.15.11: ValueXpress iPad Free Raffle at Upcoming Trade Show in New Orleans, LA
7.14.11: Soft Market Confronts CMBS Offerings
According to Commercial Mortgage Alert, the latest weakening in the CMBS market makes it likely that a pair of $1.5-billion multi-borrower issues due to price the week of July 18 will wind up with senior spreads matching the widest levels seen this year. Goldman Sachs and Citigroup are leading one … [Read more...] about 7.14.11: Soft Market Confronts CMBS Offerings
7.6.11: ValueXpress Seeks Large High Leverage Hotel Loans
A key ValueXpress lending partner continues to seek high leverage hospitality loans. The bridge loan program is designed for transactions with loan amounts of at least $20 million for properties seeking shorter term funds to restabilize property cash flow after the recession, newer properties that … [Read more...] about 7.6.11: ValueXpress Seeks Large High Leverage Hotel Loans
