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
Archives for 2011
11.7.11: SBA 7(a) Premiums Strengthening for Larger Guarantee Amounts
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
11.2.11: CMBS Conduit Deals Close Lightning Fast
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
11.1.11: Trepp and Fitch Report October CMBS Delinquency
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
11.1.11: RBS and Wells Fargo Price Successful CMBS Issue
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
10.21.11: CMBS Conduit Partner Needs $100M in Loans by Year-End
Recently I took a call from one of our most active CMBS conduit relationships. “Mike, I need $100 million in CMBS conduit loans by year-end, can you help me out?” On one hand, I was surprised; on the other, not so much. It’s just another example of how quickly the CMBS conduit lending market can … [Read more...] about 10.21.11: CMBS Conduit Partner Needs $100M in Loans by Year-End
10.18.11: Spread Widening Provides Investment Opportunity in 2005 Class AJ CMBS
ValueXpress, which provides CMBS investment advisory services to community banks, has recommended a select set of 2005 AJ CMBS for its bank clients to purchase, and many have made purchases in the past week at yields in excess of 6% for CMBS with an average life of about four years. This compares … [Read more...] about 10.18.11: Spread Widening Provides Investment Opportunity in 2005 Class AJ CMBS
10.13.11: SBA Releases New 504 Refinancing Guidelines on Cash-Out
The U.S. Small Business Administration (SBA) has relaxed regulations on loan qualifications, and as a result, the 504 loan program has begun accepting applications from a greater number of small businesses to refinance existing real estate debt. The SBA received extensive feedback from the 504 … [Read more...] about 10.13.11: SBA Releases New 504 Refinancing Guidelines on Cash-Out
10.7.11: Uptick Seen in CMBS Conduit Multifamily Originations
Earlier this month Reis reported that U.S. apartment vacancies fell to a five-year low in the third quarter of 2011 to 5.6%, enabling landlords to increase rents even though the overall economic picture is less than rosy. The 5.6% vacancy rate is the lowest since the third quarter of 2006 and … [Read more...] about 10.7.11: Uptick Seen in CMBS Conduit Multifamily Originations
10.3.11: Trepp and Fitch Report CMBS Delinquency for September
The performance of securitized commercial mortgages improved slightly last month, according to Fitch, while Trepp reports little change in delinquency for September. The 60-day delinquency rate for commercial mortgage backed securities (CMBS) loans finished September at 8.6%, according to Fitch, … [Read more...] about 10.3.11: Trepp and Fitch Report CMBS Delinquency for September