When Karen Mills announced in February that she would not stay on for a second term as head of the U.S. Small Business Administration (SBA), she still planned to remain in her post until the government agency named a replacement. But those plans apparently changed as Mills told the SBA staff on a … [Read more...] about 7.30.13: SBA Chief Karen Mills Leaving with No Replacement Named
Archives for July 2013
7.26.13: Small Balance, Higher Leverage CMBS Loans Available
Higher leverage CMBS conduit loans are now available for small balance (greater than $5 million) transactions utilizing a first mortgage and mezzanine loan combination that is seamless to the borrower. Leverage can be up to 75% for hospitality properties and 80% for commercial/multifamily … [Read more...] about 7.26.13: Small Balance, Higher Leverage CMBS Loans Available
7.24.13: CMBS Prices Rise Before Next Wave of Offerings
Commercial MBS values continued to slowly move upward during the week of July 22 as issuers began marketing or prepared to roll out four offerings totaling more than $2.5 billion, according to Commercial Mortgage Alert. On Friday, Bank of America, Morgan Stanley and CIBC launched an $856-million … [Read more...] about 7.24.13: CMBS Prices Rise Before Next Wave of Offerings
7.17.13: SBA 7(a) Premiums Recovering After Rough June
Secondary market premiums on the sale of SBA 7(a) loan guarantees are recovering from declines experienced in June after Ben Bernanke spoke at a June 19th press conference and fixed-income markets roiled in reaction based on perception that the Fed could begin phasing out bond buying later this year … [Read more...] about 7.17.13: SBA 7(a) Premiums Recovering After Rough June
7.12.13: CMBS Delinquency Plummets
In June, according to Trepp, the CMBS delinquency rate posted its lowest reading in almost three years. The 42-basis-point (bp) drop in the delinquency rate was the biggest one-month improvement since Trepp began publishing a monthly rate in fall 2009. Four of the five major property types saw their … [Read more...] about 7.12.13: CMBS Delinquency Plummets
7.9.13: Swap Rates and Loan Spreads Stabilize…for Now
After the 10-year Swap Rate (Swap) Index used to set CMBS conduit rates jumped from 2.37% to 2.60% on June 19 while Federal Reserve Chairman Bernanke spoke at a press conference and further spiked to 2.86% on Monday, June 24, the index has settled into a range of 2.80%-2.90%. Since the July 4th U.S. … [Read more...] about 7.9.13: Swap Rates and Loan Spreads Stabilize…for Now
7.3.13: New SBA Change-of-Ownership Rules
On July 1, 2013, the Small Business Association (SBA) released a revision to SOP 50 10 5(E) that revised and clarified the SBA’s requirements for financing change-of-ownership transactions with SBA-guaranteed loans. Prior to this revision, the SBA had restricted SBA financing for change-of-ownership … [Read more...] about 7.3.13: New SBA Change-of-Ownership Rules
