Archives for January 2015

We recently received an email from a CMBS conduit loan borrower who wanted us to forward important information to our clients to protect them. The client is seeking a CMBS conduit loan in an oil-related market for a limited service hotel and received a quote for a higher-than-market LTV (most … [Read more...] about 1.23.15: Please Don’t Pay Up-Front Fees to Brokers on CMBS Conduit Loans

Michael D. Sneden, Executive Vice President of ValueXpress, will be representing the firm at the Mortgage Bankers Association Commercial Real Estate Finance (CREF)/Multifamily Housing Convention and Expo at the Manchester Grand Hyatt in San Diego, California February 1-4, 2015. The convention is … [Read more...] about 1.19.15: Meet Me at the MBA in San Diego, CA

In its first enforcement action against a major rating agency, the Securities and Exchange Commission (SEC) accused S&P of fraudulent misconduct, saying S&P loosened standards to drum up business in recent years. The agreement requires S&P to pay more than $58 million to the SEC, $12 … [Read more...] about 1.13.15: S&P Gets a Time Out

ValueXpress completed 35 CMBS conduit loan transactions in 2014 with a principal balance of over $225 million. Average loan size approximated $7 million. Hospitality loans were most prevalent, but transactions were completed for every CMBS conduit loan asset class -- multifamily, retail, office, … [Read more...] about 1.9.15: Another Solid Year for ValueXpress

On December 12, UBS, Deutsche Bank, CCRE, KeyBank and others priced the benchmark AAA-rated class of a $825-million multi-borrower CMBS conduit offering at 90 basis points (bp) over swaps, above the upper end of the 85-87 bp range that was prevalent in November. On the same day, Ladder Capital, … [Read more...] about 1.6.15: Market Awaits New CMBS Deals to Clarify Pricing

With relatively low interest rates, strong market appetite for CMBS securities and the beginning of a period of high CMBS conduit loan maturities, originators are predicting strong CMBS conduit loan growth in 2015. Forecasts are for approximately $125 billion in conduit lending in the United States … [Read more...] about 1.1.15: Industry Pros Bullish on 2015 CMBS Originations