Archives for November 2011

Country Bank has announced that it is expanding its SBA lending footprint to include New York, New Jersey, Connecticut, Pennsylvania and Delaware. Country Bank will consider fixed- and floating-rate loan transactions secured by owner-occupied real estate in conjunction with the SBA 7(a) and SBA 504 … [Read more...] about 11.25.11: Country Bank Expands SBA Lending Footprint

After months of development, the Asian American Hotel Owners Association (AAHOA) announced that its online reservation system www.mybesthotelrate.com is now bookable. Guests are now able to search online and book hotel rooms across the country, including both franchised and independent properties. … [Read more...] about 11.22.11: AAHOA Hotel Reservation Site “MyBestHotelRate.com” Now Live

“We’re looking for individuals who are seeking a flexible, entrepreneurial and financially rewarding career path,” commented Michael D. Sneden, Executive Vice President of ValueXpress. “If you are a mortgage banking professional with specific experience in the origination of CMBS conduit loans, SBA … [Read more...] about 11.17.11: ValueXpress Looking for Loan Originators

ValueXpress is assisting Country Bank, an affiliate, in its application to become an SBA 504 First Lien Pooler. The SBA created a secondary market for first lien positions of SBA 504 loans as part the Jobs Act. The program allows for the pooling and sale of a portion of first mortgage loans that … [Read more...] about 11.15.11: Country Bank Applies to Become 504 First Lien Pooler

I am pleased to report that the gap between small (less than $1.5 million) SBA 7(a) guarantee bids and large (more than $3 million) guarantee bids has shrunk dramatically. You may remember that back in June I wrote: Initially, secondary market prices for larger loan guarantees above the previous … [Read more...] about 11.7.11: SBA 7(a) Premiums Strengthening for Larger Guarantee Amounts

ValueXpress recently originated a $6.5-million multifamily loan located in Jacksonville, FL. The transaction closed 32 days from the date the loan Term Sheet was signed. Another recent transaction closed in 48 days. The loans closed quickly due to a combination of factors: the conduit lender’s … [Read more...] about 11.2.11: CMBS Conduit Deals Close Lightning Fast

The delinquency rate for securitized commercial mortgages has dropped for three months in a row, reaching its lowest level of the year in October, according to Fitch, but increased 21 basis points (bp) to 9.77%, according to Trepp. The percentage of CMBS loans that are at least 60 days past due hit … [Read more...] about 11.1.11: Trepp and Fitch Report October CMBS Delinquency

RBS and Wells Fargo priced a $1.1-billion CMBS transaction on November 1 that found strong demand. With the crisis in Greece appearing to settle down and the capital markets recovering some lost ground during the week, the transaction found strong demand, driven largely by investors returning from … [Read more...] about 11.1.11: RBS and Wells Fargo Price Successful CMBS Issue