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
6.30.13: Bob Taylor Joins ValueXpress
Bob Taylor, a 15-year veteran in commercial real estate lending, has joined ValueXpress effective July 1. Bob will be primarily responsible for commercial loan originations in the western portion of the United States. Bob will be based in Salt Lake City, Utah. “Bob brings an outstanding breadth of … [Read more...] about 6.30.13: Bob Taylor Joins ValueXpress
6.26.13: Prudential’s Lillard Says Buy CMBS as Bonds Overreacted
Prudential Financial Inc.’s Michael Lillard said investors should buy commercial mortgage-backed securities and other bonds that fell on concerns the U.S. Federal Reserve will slow its pace of debt purchases. The increase in yield provided by CMBS, emerging-market debt, high-yield bonds and bank … [Read more...] about 6.26.13: Prudential’s Lillard Says Buy CMBS as Bonds Overreacted
6.24.13: CMBS Borrowers Shell Shocked over Rapid Rise in Rates
Borrowers are struggling to come to grips with what happened to CMBS loan rates over just a few days since Ben Bernanke spoke at a press conference on Wednesday, June 19. The 10-year Swap Rate (Swap) Index used to set CMBS conduit rates was at 2.37% that day, already reflecting an increase from just … [Read more...] about 6.24.13: CMBS Borrowers Shell Shocked over Rapid Rise in Rates
6.14.13: CMBS Shops Challenged to Hold Spreads in Tough Market
CMBS conduit loan interest rates, typically set at closing, are based on two numbers added together: the 10-year Swap Rate (Swap) Index and the “Spread” (an amount added to the Swap based on current CMBS bond prices and a profit margin). CMBS conduit loan borrowers are facing a double hit on … [Read more...] about 6.14.13: CMBS Shops Challenged to Hold Spreads in Tough Market
6.11.13: 8th Annual SAHOA Golf Tournament and Trade Show Big Success
On Wednesday, May 29, 2013 ValueXpress was among the sponsors for the 8th Annual San Antonio Hotel Owners Association Golf Tournament at the Hyatt Hill Country Golf Club in San Antonio, TX. 130 golfers took to the links under threatening skies (but thankfully the rain held off) to compete … [Read more...] about 6.11.13: 8th Annual SAHOA Golf Tournament and Trade Show Big Success
