With CMBS prices stabilizing at levels that provide a reasonable interest rate for borrowers, the next cloud on the horizon is risk retention. Beginning December 24, 2016, under new Dodd-Frank federal regulations, CMBS issuers will be required to retain a 5% slice (“risk retention”) of every new … [Read more...] about 4.15.16: Watching Out for Risk Retention
4.11.16: Prime Finance Circles First CMBS B-Piece with an Eye on Risk Retention
Prime Finance has entered the CMBS b-piece market, circling its first two subordinate bond investments from CMBS deals led by Wells Fargo and Citigroup. The deals should be announced in the next few weeks. Prime is a private commercial real estate finance company that originates primarily bridge … [Read more...] about 4.11.16: Prime Finance Circles First CMBS B-Piece with an Eye on Risk Retention
4.5.16: SBA Close to Restarting 504 Loan Refinance Program
After years of advocating on Capitol Hill by commercial real estate industry leaders, the SBA 504 Loan Refinancing Program was permanently reinstated on December 18, 2015, more than three years after it expired in 2012. Also known as the Commercial Real Estate and Economic Development (CREED) Act, … [Read more...] about 4.5.16: SBA Close to Restarting 504 Loan Refinance Program
4.1.16: CMBS Conduit Loan Spreads Rally (Again)
CMBS spreads tightened further this week as two CMBS issues priced at levels tighter than a CMBS offering led by Wells Fargo that priced on March 18. The benchmark AAA-rated super senior CMBS bonds from the most recent $818-million offering from Deutsche Bank and JPMorgan priced on Thursday at 129 … [Read more...] about 4.1.16: CMBS Conduit Loan Spreads Rally (Again)
3.31.16: AAHOA Trade Show in Nashville, TN a Huge Success
On March 30-31, 2016, ValueXpress exhibited at the annual Asian American Hotel Owners (AAHOA) Trade Show, which was held in Nashville, Tennessee this year. The sold-out trade show was attended by a record crowd of Asian American hoteliers ready to put recent volatility in CMBS lending behind them … [Read more...] about 3.31.16: AAHOA Trade Show in Nashville, TN a Huge Success
3.28.16: Moody’s: Oil Slump a Moderate CMBS Credit Negative
Falling oil prices represent a moderate credit negative for commercial mortgage-backed securities collateral and will cause performance to deteriorate in some metros, according to Moody's Investors Service, New York. But a number of mitigating factors should limit the harm, including limited CMBS … [Read more...] about 3.28.16: Moody’s: Oil Slump a Moderate CMBS Credit Negative
3.18.16: ValueXpress Exhibiting at AAHOA Trade Show in Nashville, TN
On March 30-31, 2016, ValueXpress will be exhibiting at the annual Asian American Hotel Owners (AAHOA) Trade Show in Nashville, Tennessee. ValueXpress will be located in Booth 374 at the Gaylord Opryland Resort & Convention Center noon-6:00 p.m. on Thursday, March 30 and Friday, March 31. … [Read more...] about 3.18.16: ValueXpress Exhibiting at AAHOA Trade Show in Nashville, TN
3.16.16: CMBS Conduit Loan Spreads Rally
After an extended period of widening spreads on CMBS bonds, spreads tightened significantly this past week. The tightening provided relief to market participants that have seen CMBS conduit lenders pull back from originating new CMBS conduit loans until the market for CMBS securities improved. The … [Read more...] about 3.16.16: CMBS Conduit Loan Spreads Rally
3.9.16: Did You Know Kroll’s CMBS Reports Are Free?
Joseph Kelly, Senior Director at Kroll Bond Rating Agency (KBRA), recently spoke at the Regional Conference of Mortgage Bankers convention in Atlantic City, New Jersey. KBRA was established in 2010 in an effort to restore trust in credit ratings by creating new standards for assessing risk and by … [Read more...] about 3.9.16: Did You Know Kroll’s CMBS Reports Are Free?
3.4.16: 5-Year Fixed-Rate CMBS Loans (No B-Buyer Approval Needed!)
ValueXpress has started origination of 5-year fixed-rate CMBS conduit loans with a partner. The loans will be held on the partner’s balance sheet until volatility in the CMBS market subsides. The 5-year fixed-rate program features interest rates in the 5.5% area and is available for all typical CMBS … [Read more...] about 3.4.16: 5-Year Fixed-Rate CMBS Loans (No B-Buyer Approval Needed!)
