CMBS spreads fell to post-crash lows after the long-term, super-senior bonds from a $1.3-billion multi-borrower offering by Wells Fargo, Ladder Capital and RBS priced at 85 basis points (bp) over swaps on Wednesday, September 19, 2012, according to Commercial Mortgage Alert. This was down from the … [Read more...] about 9.21.12: Fed Move Spurs Pickup in CMBS Rally
9.19.12: Tightening CMBS Spreads a Bonanza for Borrowers – Part II
In July I wrote that CMBS spread tightening has resulted in a very favorable rate environment for CMBS conduit borrowers compared with just a few months earlier. Well, based on the recent CMBS issues, borrowing rates are poised to drop further in upcoming weeks as the results of recent CMBS issues … [Read more...] about 9.19.12: Tightening CMBS Spreads a Bonanza for Borrowers – Part II
9.12.12: Small Business Capital and the Mark Feathers Saga…Cont’d
It appears that I was off base when I suggested the Securities Exchange Commission (SEC) might not understand the business model for Small Business Capital. In July, I wrote, “If you understand the structure of SBA loans, the two SBC funds conceptually make sense. The SEC alleges the returns on the … [Read more...] about 9.12.12: Small Business Capital and the Mark Feathers Saga…Cont’d
9.7.12: ValueXpress Welcomes Ken Stevenson
Ken Stevenson, a 20-year veteran in commercial real estate lending, has joined ValueXpress, effective September 1. Stevenson will be primarily responsible for commercial loan originations in the western United States. “Ken brings an outstanding breadth of experience to the ValueXpress team,” … [Read more...] about 9.7.12: ValueXpress Welcomes Ken Stevenson
9.2.12: Delinquency Rate Falls 21 BP in August – Largest Decline Since November 2011
The long-anticipated leveling off of the U.S. CMBS delinquency rate became a reality in August. Over the last few months, we predicted that the Trepp CMBS Delinquency Rate would hit a high in early to mid-summer then decelerate in the second half of the year. That prognostication came to fruition in … [Read more...] about 9.2.12: Delinquency Rate Falls 21 BP in August – Largest Decline Since November 2011
8.29.12: Brokers: How to Get an MBA in CLO
Since May, ValueXpress has been participating in the education and training of professionals in commercial loan origination (CLO) as part of Commercial Capital Training Group’s (CCTG) education program. The ValueXpress CMBS presentation, which includes a review of the company’s specialty niche of … [Read more...] about 8.29.12: Brokers: How to Get an MBA in CLO
8.24.12: Calm Before the CMBS Issuance Storm
After only one issue at the beginning of August, the CMBS market is preparing for a flurry of deals in September and October. CMBS conduit shops are expected to team up, mainly with their usual partners; in September, the market can expect deals from JPMorgan/CIBC, UBS/Barclays, RBS/Wells Fargo, … [Read more...] about 8.24.12: Calm Before the CMBS Issuance Storm
8.20.12: Energy Boom Boosting Texas Hotel Performance
Jay Bhakta, a senior loan originator at the ValueXpress Jackson, MS office, has lived in Jackson, MS for over 20 years. During that time he has become a well-known financier to the Asian-American community, having financed numerous hotels, gas stations and fast food/convenience stores in the past … [Read more...] about 8.20.12: Energy Boom Boosting Texas Hotel Performance
8.17.12: Barclays: More Investors Now Focused on Both RMBS and CMBS
Investors in the non-agency secondary mortgage markets are now looking at opportunities across asset classes, according to Barclays Capital. "Since 2009, non-agency RMBS and CMBS have posted extraordinary price returns," said Barclays analysts in an email late Friday. "We believe more investors are … [Read more...] about 8.17.12: Barclays: More Investors Now Focused on Both RMBS and CMBS
8.10.12: ValueXpress Looking for Loan Originators
Last November, I put out a call for loan originators to join our team; at that time Kevin Monahan and Leon Elliott came aboard. Kevin has approximately 10 deals committed and Leon has well over $60 million in loans approved, including a $32-million hotel portfolio loan and a $24-million office … [Read more...] about 8.10.12: ValueXpress Looking for Loan Originators