The Economic Aid Act provides emergency enhancements to the SBA’s 7(a) loan program by offering reduced or no fees for the borrower. This includes waiving the largest borrower fee -- the SBA Guaranty fee. Prior to the Economic Aid legislation, SBA 7(a) borrowers paid an SBA Guaranty fee in the … [Read more...] about 1.3.21: SBA WAIVES BORROWER GUARANTEE FEE FOR SBA 7(A) LOANS
7.1.15: Current Loan Applications Require “A Conversation with the Borrower”
The loan spread in many CMBS conduit loan term sheets executed by borrowers in the past few weeks is not at levels that can be closed profitably, leaving lenders and mortgage brokers in a quandary as to what to do. Loan spreads have moved out anywhere from 10-20 basis points (bp) as the pricing … [Read more...] about 7.1.15: Current Loan Applications Require “A Conversation with the Borrower”
6.11.15: Meanwhile, CMBS Prices Begin to Weaken, Borrower Spreads to Widen
Two CMBS conduit deals were being marketed during the week of June 8, a $1.3-billion offering by Deutsche Bank, CCRE, Ladder Capital and KeyBank, and a $1.2-billion offering by Wells Fargo, Rialto Mortgage Finance, Silverpeak Real Estate Finance, Walker & Dunlop and NCB. Price guidance on the … [Read more...] about 6.11.15: Meanwhile, CMBS Prices Begin to Weaken, Borrower Spreads to Widen
2.16.15: CMBS Borrower Loan Rates Off Record Lows with Swap Increases
Everyone involved in the origination and underwriting of CMBS conduit loans or the creation and selling of CMBS securities backed by the loans is keenly aware of the swap market. The swap rate is integral to the interest rate charged CMBS conduit loan borrowers and a key factor in the profitability … [Read more...] about 2.16.15: CMBS Borrower Loan Rates Off Record Lows with Swap Increases
3.12.14: SBA Approves Borrower-Friendly Rule Changes for 504 Loan Program
The Small Business Administration (SBA) has issued a rule that will eliminate the section of the SBA guide which limits project expenses eligible for 504 Loan Program financing to those incurred within nine months prior to receipt by SBA of a completed loan application. This change will permit … [Read more...] about 3.12.14: SBA Approves Borrower-Friendly Rule Changes for 504 Loan Program
5.27.13: Single-Borrower CMBS Transactions in Vogue Despite Rating Agency Disagreement
Issuance of single-borrower CMBS deals so far this year has reached $12.1 billion, more than the $10.1 billion issued in all of 2012, according to data from Commercial Mortgage Alert. Assisting in the rise of the single-loan asset securitization market, say investors and analysts, is a tweak in how … [Read more...] about 5.27.13: Single-Borrower CMBS Transactions in Vogue Despite Rating Agency Disagreement
2.26.13: CMBS Spreads Widen; Borrower Spreads Increase
Amid a flood of issuance (see the article below) long-term super-senior CMBS spreads have widened from the levels experienced in early February. Long-term super-senior CMBS with an initial 9.5- to 10-year life had seen spreads steady at 72 basis points (bp) since the beginning of 2013. However, the … [Read more...] about 2.26.13: CMBS Spreads Widen; Borrower Spreads Increase
3.17.11: ValueXpress Helps New Borrower Complete 7(a) Process
In February 2011, a borrower contacted ValueXpress explaining he wanted to purchase an existing retail business that operated as a home center in a 60,000-square-foot facility in Mississippi. The borrower, previously a general manager of a truck stop that comprised fuel and a convenience store, now … [Read more...] about 3.17.11: ValueXpress Helps New Borrower Complete 7(a) Process
4.1.10: ValueXpress Provides $2.5-Million Loan in Conjunction with DPO That Saves Borrower over $6 Million
In one of the most difficult transactions ever completed by the firm, ValueXpress was able to save its client more than $6 million by providing a $2.5-million loan to pay off $7.4 million in debt obligations secured by 8 KFC (Kentucky Fried Chicken) restaurants located in Ohio and Pennsylvania. … [Read more...] about 4.1.10: ValueXpress Provides $2.5-Million Loan in Conjunction with DPO That Saves Borrower over $6 Million
3.29.10: JP Morgan Closes CMBS Conduit Loan, While RBS Prepares Multi-Borrower CMBS Issue
Ramco-Gershenson Properties Trust announced that it has closed on a new $31.3-million CMBS loan with J.P. Morgan; the loan is secured by its West Oaks II shopping center in Novi, MI and its Spring Meadows Place shopping center in Holland, OH. The $31.3-million financing represents a loan-to-value of … [Read more...] about 3.29.10: JP Morgan Closes CMBS Conduit Loan, While RBS Prepares Multi-Borrower CMBS Issue