RBS reported that Standard and Poor’s Rating Services (S&P) announced on July 27 it will not currently assign ratings to U.S. conduit CMBS transactions, including the most recent $1.5-billion CMBS transaction offered by Goldman Sachs Group Inc. and Citigroup, Inc. that was scheduled to close on … [Read more...] about 7.28.11: S&P Suspends Ratings on New Issue CMBS 2.0 Deals
7.20.11: Inspector General Issues Scathing Audit Criticizing Banco Popular Regarding SBA Loan Underwriting
On July 13, SBA's Inspector General (IG) issued a scathing audit criticizing Banco Popular for its underwriting procedures for the Huntington Learning Centers (HLC) franchise. The IG wrote that the bank failed to properly analyze and underwrite applicant projections. This failure warrants the denial … [Read more...] about 7.20.11: Inspector General Issues Scathing Audit Criticizing Banco Popular Regarding SBA Loan Underwriting
7.15.11: ValueXpress iPad Free Raffle at Upcoming Trade Show in New Orleans, LA
After the terrific response to our iPad raffle at the Asian-American Hotel Owners Convention, ValueXpress plans to give away an iPad to another lucky winner at the upcoming Leuva Patidar Samaj of USA National Convention and Trade Show in New Orleans, LA at the Marriott Convention Center. The trade … [Read more...] about 7.15.11: ValueXpress iPad Free Raffle at Upcoming Trade Show in New Orleans, LA
7.14.11: Soft Market Confronts CMBS Offerings
According to Commercial Mortgage Alert, the latest weakening in the CMBS market makes it likely that a pair of $1.5-billion multi-borrower issues due to price the week of July 18 will wind up with senior spreads matching the widest levels seen this year. Goldman Sachs and Citigroup are leading one … [Read more...] about 7.14.11: Soft Market Confronts CMBS Offerings
7.6.11: ValueXpress Seeks Large High Leverage Hotel Loans
A key ValueXpress lending partner continues to seek high leverage hospitality loans. The bridge loan program is designed for transactions with loan amounts of at least $20 million for properties seeking shorter term funds to restabilize property cash flow after the recession, newer properties that … [Read more...] about 7.6.11: ValueXpress Seeks Large High Leverage Hotel Loans
6.30.11: Up-Front Costs Concern Small Balance Conduit Borrowers
Small balance ($2-$10 million) CMBS conduit borrowers no longer enjoy programs that feature fixed transaction costs for third-party reports and lender’s legal charges that are a relative bargain. Those programs, in effect prior to the 2008 CMBS conduit loan market meltdown, no longer exist. Today’s … [Read more...] about 6.30.11: Up-Front Costs Concern Small Balance Conduit Borrowers
6.27.11: SBA Guarantee Premiums Remain Lofty
Recent SBA 7(a) guarantee sales by ValueXpress partner banks confirm tremendous demand from secondary market loan guarantee broker/dealers, even for higher guarantee amounts above the $1.5-million maximum guarantee that existed prior to September 2010. When the SBA 7(a) loan limit was increased to … [Read more...] about 6.27.11: SBA Guarantee Premiums Remain Lofty
6.20.11: ValueXpress to Exhibit at Leuva Patidar Samaj Trade Show in New Orleans, LA
Following tremendous success at the Asian American Hotel Owners (AAHOA) Trade Show in Las Vegas, NV, ValueXpress will be exhibiting at the Leuva Patidar Samaj of USA National Convention and Trade Show in New Orleans, LA at the Marriott Convention Center on Friday, July 29 and Saturday, July 30, … [Read more...] about 6.20.11: ValueXpress to Exhibit at Leuva Patidar Samaj Trade Show in New Orleans, LA
6.18.11: AAHOA Report: Debt Available for Hotel Owners
Hotel owners who attended the recent Asian-American Hotel Owners (AAHOA) Convention and Trade Show in Las Vegas, NV were encouraged by the improvement noted in room sales in late 2010 and 2011 to date after poor business conditions resulted in revenue declines of at least 10%-30% during the … [Read more...] about 6.18.11: AAHOA Report: Debt Available for Hotel Owners
6.17.11: Subhash Shah Wins IPAD 2 Drawing at AAHOA
Hotel owner Subhash (Sam) Shah was the winner of a new 32GB IPAD 2 at the ValueXpress booth at the Asian-American Hotel Owners (AAHOA) Convention and Trade Show in Las Vegas, NV last week. When we first contacted Mr. Shah and told him he’d won the IPAD, he responded, “No, I don’t want to buy an … [Read more...] about 6.17.11: Subhash Shah Wins IPAD 2 Drawing at AAHOA