Archives for November 2013

CMBS conduit loans secured by multifamily properties compete directly with similar loans offered by Fannie Mae through 24 Delegated Underwriting and Servicing (DUS) lenders. Typically, DUS lenders are authorized to approve and close loans without Fannie Mae approval. Both loan products allow … [Read more...] about 11.29.13: CMBS Conduit Loans Work in Fannie “Pre-Review” Markets

An active pipeline of commercial MBS deals over the next several weeks will push annual issuance close to $90 billion, well above the $65-billion average prediction by a panel of CMBS professionals polled at the beginning of the year. According to Commercial Mortgage Alert, 15 more transactions … [Read more...] about 11.23.13: CMBS Volume Expected to Blow Away Estimates

Originators that focus on small balance CMBS loans (roughly $3-$20 million) in the N.Y. metropolitan area are having a tough time competing with community bank portfolio lenders on interest rates when the sponsor is indifferent to recourse. While CMBS conduit loan rates are currently in the low 5% … [Read more...] about 11.18.13: N.Y. Metro Community Bank Rates Competitive for Recourse Commercial Deals

Steve Lombardi, a 20-year veteran in commercial real estate lending, private equity and capital markets, joined ValueXpress effective November 15. Steve is primarily responsible for commercial loan originations focused on CMBS conduit loans in New England. Steve is based in Melrose, Massachusetts, … [Read more...] about 11.15.13: Steve Lombardi Joins ValueXpress

"As I look back on the CMBS conduit loans we closed in 2012 and 2013 to date a clear pattern has emerged on what motivates small balance sponsors (loans in the $3-million to $20-million range) to close CMBS conduit loans as opposed to competing commercial loan products," commented Jim Brett, head of … [Read more...] about 11.11.13: What’s Hot in CMBS Conduit Loan Origination

The CMBS market is having trouble finding direction subsequent to the pricing of the CMBS offering from RBS and Wells Fargo on Monday, November 4 in which the benchmark super-senior class of the offering was priced at a spread of 93 basis points (bp) over swaps (down from 105 bp on the previous … [Read more...] about 11.6.13: CMBS Prices See-Saw

Michael D. Sneden, Executive Vice President at ValueXpress, will be presenting CMBS conduit loan origination techniques to the November 2013 class of the Commercial Capital Training Group (CCTG) in Albany, N.Y. on Wednesday, November 20. CCTG is a one-of-a-kind training company that provides a … [Read more...] about 11.1.13: Mike Sneden to Present at Commercial Capital Training Group