According to an SBA spokesperson, the SBA “will be ready to accept applications for loans in excess of $2 million starting the week of October 18,” despite a recent report by Randy Griffin, President of CSRA Business Lending, that suggested the increase in SBA loan amounts to $5 million will take … [Read more...] about 10.8.10: SBA to Accept Applications for Loans in Excess of $2 Million
10.6.10: Resurgent CMBS Market No Cure-All for Troubled Borrowers
A projected threefold increase in securitized lending next year would boost spirits among prospective borrowers but do little to help the majority of commercial real estate investors obtain financing, experts say. Issuers of CMBS continue to shun riskier secondary markets. CMBS issuance nationally … [Read more...] about 10.6.10: Resurgent CMBS Market No Cure-All for Troubled Borrowers
10.1.10: JPMorgan Launches $1.1-Billion CMBS Conduit Offering
Commercial Real Estate News reports that JPMorgan Chase has launched a $1.1-billion CMBS transaction backed by 30 mortgages it recently originated. JPMorgan Chase Commercial Mortgage Securities Trust 2010-C2 is the second multi-borrower transaction and third CMBS deal issued by the investment bank … [Read more...] about 10.1.10: JPMorgan Launches $1.1-Billion CMBS Conduit Offering
9.27.10: 60- to 120-Day Wait for Higher SBA Limits
“Although the report by Randy Griffin, President of CSRA Business Lending, a CDC in Augusta, GA, details all the positive elements of the Small Business Jobs Bill, it was very discouraging to discover the increase in SBA loan amounts to $5 million will take 60 to 120 days,” noted Michael D. Sneden, … [Read more...] about 9.27.10: 60- to 120-Day Wait for Higher SBA Limits
9.23.10: Country Bank Ramps Up SBA Lending
Country Bank, a $450-million community bank based in New York City, has appointed Tim Moffett, Vice President, to lead its expanding SBA loan platform. Moffett has worked in Country Bank’s lending area for six years. The appointment was spurred by the bank’s increased participation in … [Read more...] about 9.23.10: Country Bank Ramps Up SBA Lending
9.17.10: U.S. Senate Passes Small Business Bill
The U.S. Senate approved legislation to cut taxes and ease credit for small businesses in a long-delayed victory for Democrats eager to show voters they are working to create jobs. If the U.S. House passes the bill as expected as early as next Wednesday, it would head to President Barack Obama to … [Read more...] about 9.17.10: U.S. Senate Passes Small Business Bill
9.13.10: JPMorgan Issues $485 Million in CMBS
JPMorgan issued $485 million in CMBS backed by 72 shopping centers owned by Centro Properties. The 10-year loan amortizes on a 30-year schedule and carries a 6.27% interest rate. The underlying loan included $89 million of subordinate financing. The largest allocated loan balance ($40.4 million) was … [Read more...] about 9.13.10: JPMorgan Issues $485 Million in CMBS
9.8.10: CMBS Delinquencies Accelerate in August
Loan delinquencies in commercial mortgage-backed securities accelerated in August after two months of slowing, according to Trepp LLC, New York. Treppwire reported CMBS loans 30 or more days delinquent, in foreclosure, or REO up 21 bp in August to 8.92% overall, following a 12 bp increase in July … [Read more...] about 9.8.10: CMBS Delinquencies Accelerate in August
9.3.10: SBA Loan Guarantee Premiums Soar in August
In August, short- and long-term SBA loan guarantee premiums soared to record high levels as uncertainty around the next phase of economic stimulus options continued to drive loan origination volume down, according to BoeFly. The BoeFly Loan Sale Index for 25-year Prime+2% increased 80 basis points … [Read more...] about 9.3.10: SBA Loan Guarantee Premiums Soar in August
8.30.10: CMBS Prices Continue Climb, Class AM Bonds Reach $100
CMBS prices continue to climb as a result of low Treasury yields and steady spreads. The bigger story, however, was the strength in AM and AJ bonds over the last five trading days including Friday, August 27, 2010. According to Trepp, Mezzanine AAA bonds (AMs) from 2005 and 2006 started to trade … [Read more...] about 8.30.10: CMBS Prices Continue Climb, Class AM Bonds Reach $100