One of the more burdensome structural features of CMBS 2.0 (post-2010 CMBS conduit loans) has been the insistence of cash management accounts for nearly all CMBS conduit loans. In summary, cash management accounts are set up for each transaction as a bank account in the name of both the borrower and … [Read more...] about 4.30.12: Cash Management and CMBS Conduit Loans…Not Perfect Together
Archives for April 2012
ValueXpress will be exhibiting at the annual Asian American Hotel Owners (AAHOA) Trade Show in Atlanta, GA, May 3-4, 2012. ValueXpress will be located in booth 739 at the Georgia World Congress Center noon-6:00 p.m. on both Thursday, May 3 and Friday, May 4. “ValueXpress is an Allied Member of AAHOA … [Read more...] about 4.23.12: ValueXpress Exhibiting at AAHOA Trade Show in Atlanta, GA
According to Commercial Mortgage Alert (CMA), commercial MBS issuance is picking up steam. After a slow first quarter, volume is now on track to reach $20 billion by midyear. That would surpass the $17.1 billion of activity in last year’s first half and put the sector on pace to exceed the … [Read more...] about 4.19.12: Lending Rebound Bolstering CMBS Pipeline
Asian American Hotel Owners (AAHOA) leaders met with members of Congress to discuss two legislative priorities. In recent months, discussions in Washington, D.C. have centered on eliminating the SBA 504 Loan Refinancing Program, which is scheduled to expire in September. AAHOA has asked Congress to … [Read more...] about 4.16.12: AAHOA Heads to Washington, D.C. in Support of SBA Program Extensions
CMBS issuance in the United States got off to a slow start in the first quarter, but activity is expected to step up in coming months, according to Commercial Mortgage Alert. Only $6 billion of CMBS priced January-March, down 32% from a year earlier and virtually flat with fourth-quarter 2011. The … [Read more...] about 4.6.12: After Slow Quarter, CMBS Volume Should Pick Up
Since the restart of the CMBS market in June 2010 when JPMorgan issued $716 million of CMBS, market participants have focused on a metric called debt yield. Debt yield is the property net cash flow (generally defined as actual income and expenses including management fees less capital reserves … [Read more...] about 4.3.12: What’s the Direction of Debt Yield on CMBS 2.0 Issues?