The Office of Financial Assistance announced an update to the Standard Operating Procedure (SOP) 50 10 5. This update, known as SOP 50 10 5(D), will be effective on October 1, 2011. This version of the SOP will apply to all applications received by SBA on or after October 1, 2011. Change Highlights: … [Read more...] about 9.26.11: SBA Issues New Standard Operating Procedures for 7(a) and 504 Loans
Archives for September 2011
9.23.11: Buyers Grab Super-Senior CMBS from Recent Offerings
CMBS investors lined up for super-senior CMBS from recent transactions, hopefully signaling the end to spread widening that began in May. On Wednesday, September 14, Morgan Stanley and Bank of America priced the bulk of a $1.5-billion multi-borrower offering at tighter-than-expected spreads. Among … [Read more...] about 9.23.11: Buyers Grab Super-Senior CMBS from Recent Offerings
9.19.11: FDIC Reclassification Troubling for Hoteliers
Recently, Jay Bhakta, who runs the Mississippi office for ValueXpress, and Michael Sneden, Executive Vice President of ValueXpress, traveled to Houston, TX to assist a borrower in the closing of his CMBS conduit loan secured by a hotel as well as assist another hotel borrower refinance a … [Read more...] about 9.19.11: FDIC Reclassification Troubling for Hoteliers
9.13.11: Rates on Fannie Mae Loans Continue to Decline
With 10-year Treasury rates below 2%, borrowers that qualify for Fannie Mae (and Freddie Mac) multifamily loans are seeing loan quotes at levels not seen since the formation of the Fannie Mae multifamily program in the 1950s. ValueXpress is active in both the Fannie Mae Delegated Underwriting and … [Read more...] about 9.13.11: Rates on Fannie Mae Loans Continue to Decline
9.8.11: SBA 504 Loans Hit Record-Low Interest Rates for September
The Small Business Administration's (SBA) 504 loan program is providing long-term, fixed-rate financing for commercial real estate and the purchase of long-term capital assets at the lowest interest rates since the program's inception. The debentures that funded this month's 20-year 504 loans were … [Read more...] about 9.8.11: SBA 504 Loans Hit Record-Low Interest Rates for September
9.6.11: Freddie MAC to Step Up Multifamily Loans
Freddie Mac plans to accelerate its program to purchase loans backed by apartment buildings, increasing the availability of financing for landlords and helping bolster the multifamily real-estate market. Freddie Mac, the U.S. government-backed mortgage-finance giant, will likely fund more than $16 … [Read more...] about 9.6.11: Freddie MAC to Step Up Multifamily Loans
9.1.11: CMBS Delinquency Rate Recedes Sharply in August
After a dismal July delinquency reading, the CMBS market rebounded smartly in August, according to Trepp. The delinquency rate for U.S. commercial real estate loans in CMBS fell 36 basis points (bp) in August to 9.52%. This is the second-largest drop since the beginning of the credit crisis in 2008 … [Read more...] about 9.1.11: CMBS Delinquency Rate Recedes Sharply in August
