The 10-year Swap Rate (Swap), the index used to set the interest rate for CMBS conduit loans, recently widened and is now above its 2013 range. For most of 2013 to date, the Swap has traded within a range of 1.80%-2.10%, but the Swap closed at 2.17% on May 27, the highest level so far this year. … [Read more...] about 5.31.13: Swaps Widen Based on Bernanke Comments
Archives for May 2013
5.27.13: Single-Borrower CMBS Transactions in Vogue Despite Rating Agency Disagreement
Issuance of single-borrower CMBS deals so far this year has reached $12.1 billion, more than the $10.1 billion issued in all of 2012, according to data from Commercial Mortgage Alert. Assisting in the rise of the single-loan asset securitization market, say investors and analysts, is a tweak in how … [Read more...] about 5.27.13: Single-Borrower CMBS Transactions in Vogue Despite Rating Agency Disagreement
5.22.13: Fannie Mae and Conduit Rates Converging for Multifamily
With Fannie Mae’s recent 10-basis-point increase in fees it charges lenders to guarantee loans and the continued decline in CMBS conduit rates, the rate gap between the two multifamily products is diminishing, particularly for smaller balance (under $10 million) loans on “B” quality multifamily … [Read more...] about 5.22.13: Fannie Mae and Conduit Rates Converging for Multifamily
5.17.13: A ValueXpress Trademark – The Weekly Conference Call
A signature of ValueXpress CMBS conduit deals is the weekly conference call. At the beginning of each transaction, a working party list including borrower and borrower’s counsel and lender’s counsel and lender’s underwriting team is distributed and a set weekly conference call is scheduled. The … [Read more...] about 5.17.13: A ValueXpress Trademark – The Weekly Conference Call
5.13.13: ValueXpress to Sponsor Volleyball Tournament in Houston, TX
On Saturday and Sunday, May 25-26, 2013 ValueXpress will be sponsoring a Volleyball Tournament at Spike Sports Club on Gessner Road in Houston, TX. The tournament features 350 players, primarily Asian-American hoteliers from Texas, Louisiana and Mississippi, on 32 teams. This event – run in a … [Read more...] about 5.13.13: ValueXpress to Sponsor Volleyball Tournament in Houston, TX
5.9.13: A River Runs Through It
One the amazing things about commercial mortgage lending is how something totally out of left field can crop up to delay or derail a financing. Sure, there is the old saying “time kills deals,” in which the passage of time causes a deal to die, perhaps due to increases in rates, a buyer comes along … [Read more...] about 5.9.13: A River Runs Through It
5.4.13: CMBS Delinquency Plummets
In April, the Trepp CMBS delinquency rate posted its lowest reading in more than two years: The 47-basis-point (bp) drop was the biggest one-month gain since Trepp began publishing the number in the fall of 2009. All major property types saw their delinquency rates fall in April. Hotel and apartment … [Read more...] about 5.4.13: CMBS Delinquency Plummets
