On Friday, November 29, ValueXpress participated in the 2012 AAHOA Washington District Regional Conference and Trade Show at the Hilton Crystal City Hotel in Arlington, Virginia. The show featured the Asian-American Hotel Owners Association’s (AAHOA) current President Alkesh Patel and Washington … [Read more...] about 11.29.12: ValueXpress Exhibits at 2012 AAHOA Washington District Regional Conference & Trade Show
Archives for November 2012
11.26.12: CMBS Spreads Widen Amid Supply and Fiscal Cliff Concerns
While it seemed that the rally in CMBS securities would never end, the music stopped last week when dealers widened the price talk on a $1.4-billion conduit offering that was in the market. The offering, which priced on Friday, November 23, is backed by loans supplied by Jefferies LoanCore, Goldman … [Read more...] about 11.26.12: CMBS Spreads Widen Amid Supply and Fiscal Cliff Concerns
11.21.12: Small Town Maul (Reported by the Wall Street Journal)
New York investor David Lichtenstein’s bet on four small-town malls didn’t pan out, leading him to forfeit the properties to his mortgage holders in 2009. It now appears the deal also was a big loser for investors in the malls’ $73.9-million securitized mortgage. The last of the four malls recently … [Read more...] about 11.21.12: Small Town Maul (Reported by the Wall Street Journal)
11.16.12: Low Rates Spur Surge in CMBS Loan Applications
With CMBS loan rates approaching historic lows, ValueXpress is seeing a surge in new loan applications. Loan activity is often high as year-end approaches, and in combination with low rates, fourth-quarter loan activity is expected to be extraordinary. “We started November with 13 loans under … [Read more...] about 11.16.12: Low Rates Spur Surge in CMBS Loan Applications
11.12.12: ValueXpress Teams Up with RBM Financial on Loan Diligence
With the surge of loan applications (see “Low Rates Spur Surge in CMBS Loan Applications”), ValueXpress has announced it is working with RBM Financial to ensure that loan underwriting and closing documentation required from CMBS conduit borrowers are managed in a timely manner to meet loan-closing … [Read more...] about 11.12.12: ValueXpress Teams Up with RBM Financial on Loan Diligence
11.7.12: CMBS Delinquency Rate Dips to 8.3%
According to Fitch Rating Services, the delinquency rate for commercial MBS loans inched down again last month, despite the addition of a big multifamily mortgage to the late-payment list. The percentage of securitized commercial mortgages that were 60 days past due stood at 8.29% on October 31, … [Read more...] about 11.7.12: CMBS Delinquency Rate Dips to 8.3%
11.2.12: ValueXpress Up and Running Despite Sandy
With an ability to work remotely, the ValueXpress team is underwriting and closing loan transactions with its clients; closing schedule expectations remain on track. Jay Bhakta is with clients in Houston and Corpus Christi, TX finishing up due diligence on six transactions totaling over $35 million … [Read more...] about 11.2.12: ValueXpress Up and Running Despite Sandy
11.1.12: Deutsche Bank and Cantor Price CMBS Issue at Tighter Spreads
Deutsche Bank and Cantor Fitzgerald priced a $1.11-billion CMBS transaction today that found strong demand; it priced at tighter levels than the previous CMBS deal from Wells Fargo and RBS that priced on Tuesday, October 16. The AAA-rated super-senior bonds priced mostly in line with initial pricing … [Read more...] about 11.1.12: Deutsche Bank and Cantor Price CMBS Issue at Tighter Spreads