Archives for October 2013

New CMBS loan applications should see a 15-basis-point (bp) decrease in spread based on the results of the most recent CMBS offering from RBS and Wells Fargo that is expected to price on Friday, November 1. The benchmark super-senior class of the offering was being marketed at a spread of 95 bp over … [Read more...] about 10.30.13: CMBS Conduit Loan Rates Fall

ValueXpress recently entered a relationship with a private equity fund to originate SBA 504 loans utilized for the purchase of owner-occupied real estate properties. The investor will pool the 504 first liens and issue securities in the capital markets backed by the loans. ValueXpress will primarily … [Read more...] about 10.23.13: ValueXpress Enters New Relationship to Originate SBA 504 Loans on Hotels

On Friday, October 11th, we lost a dear friend and colleague, Kevin Monahan, to pancreatic cancer. I met Kevin in 2005 when he worked at Business Loan Express (BLX) as a Business Development Officer (BDO). We worked together on a construction loan for a Country Inn & Suites hotel in Ithaca, N.Y. … [Read more...] about 10.18.13: Kevin Monahan, 1960-2013

On October 10, Morgan Stanley and Bank of America (BoA) priced a $1.3-billion CMBS issue that allowed CMBS loan originators to breathe a sigh of relief as the transaction’s spreads were more in line with those of three multi-borrower CMBS offerings that priced last month compared with those of a … [Read more...] about 10.14.13: Spreads and Rates Stable After Morgan Stanley Prices CMBS Issue

ValueXpress recently cemented a relationship with a CMBS lender to originate CMBS loans as small as $2 million. The program features the typical terms of larger CMBS loans and is eligible for all the asset classes covered by larger loans, including multifamily, office, retail, industrial, … [Read more...] about 10.9.13: ValueXpress Enters New Relationship for Small Balance CMBS Loans

It’s October 1 and through failure of Congress to enact a fiscal budget or a continuing resolution to authorize federal spending, all parts of the federal government not deemed “essential” halted operations effective midnight last night. According to Bloomberg BusinessWeek’s account regarding the … [Read more...] about 10.4.13: SBA Sidelined by Government Shutdown

According to Trepp, the CMBS delinquency rate continued its impressive decline in September, marking the fourth consecutive month the rate has fallen. In doing so, the commercial real estate markets shrugged off worries about Syria, the debt ceiling, and the potential impact of tapering bond … [Read more...] about 10.1.13: U.S. CMBS Delinquency Report: Rate Declines Sharply in September, Continuing Year-Long Trend