The FHA 223(f) multifamily loan program is proving to be a savior for apartment owners facing loan maturities in 2010. The program is particularly suited for apartment properties that are slightly overleveraged based on today’s standards. “The 223(f) apartment loan program delivers 20% more loan … [Read more...] about FHA 223(f) Loan Program a Savior for Apartment Owners
Will SBA 7(a) Loan Limits Really Increase?
ValueXpress is not sure if or when the bill that includes an increase in loan limits for the SBA 7(a) program and 504 program will be passed. The bill, “The Small Business Job Creation and Access to Capital Act of 2009,” has four major components: 1. An increase in the SBA 7(a) loan limit from … [Read more...] about Will SBA 7(a) Loan Limits Really Increase?
CMBS Conduit Loan Minimum Loan Size Reduced (Again)
ValueXpress is pleased to announce that the minimum loan size for its CMBS conduit program has been further reduced to $2 million nationwide. The program provides for 5-year fixed-rate, non-recourse loans secured by anchored shopping centers, urban/suburban office buildings and multi-tenant … [Read more...] about CMBS Conduit Loan Minimum Loan Size Reduced (Again)
7.23.10: U.S. Senate Votes $30 Billion in Small-Business Aid
The U.S. Senate voted last Thursday to include a proposed $30-billion lending program in a package of aid for small businesses; two Republicans joined Democrats to support the amendment. The vote was 60 to 39, with Senators George LeMieux (R, FL) and George V. Voinovich (R, OH) delivering crucial … [Read more...] about 7.23.10: U.S. Senate Votes $30 Billion in Small-Business Aid
7.21.10: CMBS Market Rises from Ashes of Collapse*
Even as woes mount in the commercial real estate market, a once-vital source of funding for commercial property owners is showing signs of life. In the coming weeks, banks, including J.P. Morgan, Chase & Co., Goldman Sachs Group Inc. and Citigroup Inc., are expected to launch two offerings of … [Read more...] about 7.21.10: CMBS Market Rises from Ashes of Collapse*
6.28.10: JP Morgan Closes CMBS Issue
According to Trepp, JPMorgan’s $716.3-million CMBS issue, the second conduit package to go on the market this year, closed on June 24. The $416-million Class A1, representing 58% of the issue with an average expected life of 4.5 years, carried a coupon of 3.85%. The $131-million Class A2, … [Read more...] about 6.28.10: JP Morgan Closes CMBS Issue
6.24.10: New Loan Poolers Will Help Jump Start Secondary Market for 504 Loans
The U.S. Small Business Administration (SBA) announced the first nine loan pool originators authorized by the agency to assemble and sell pools of 504 program first mortgage loans, a major step to jump starting a secondary market that should make fixed-asset financing more widely available for small … [Read more...] about 6.24.10: New Loan Poolers Will Help Jump Start Secondary Market for 504 Loans
6.22.10: An Extender Bill for SBA Fee Funding Might Not Pass Anytime Soon
The “Extender” bill (HR 4213) that passed the House a couple of weeks ago and is now in the Senate for consideration might not pass anytime soon, if at all, according to Chris Crawford, President and CEO of NADCO. This huge and controversial bill, which includes funding to continue the offset for … [Read more...] about 6.22.10: An Extender Bill for SBA Fee Funding Might Not Pass Anytime Soon
6.10.10: JPMorgan’s Upcoming CMBS Issue Gets High Marks from Rating Agencies
JPMorgan Chase’s upcoming $716.3-million CMBS issue, the second conduit package to go on the market this year, is getting high marks from ratings agencies despite risks attached to some of the underlying loans. There will be more such conduit deals as 2010 progresses, according to the CRE Finance … [Read more...] about 6.10.10: JPMorgan’s Upcoming CMBS Issue Gets High Marks from Rating Agencies
6.8.10: U.S. House Could Vote on Small-Business Package This Week
The U.S. House of Representatives could vote as early as this week (week of June 7) to approve legislation that would create a $30-billion fund aimed at spurring small-business lending. The bill embodies a plan first floated by President Barack Obama in his State of the Union address in January. But … [Read more...] about 6.8.10: U.S. House Could Vote on Small-Business Package This Week