ValueXpress tracks the pricing of CMBS securities because it directly correlates to the interest rate borrowers receive for a CMBS conduit loan. Our insight into the CMBS market ensures that our borrowers receive the lowest possible interest rate on their loan. ValueXpress has been tracking CMBS … [Read more...] about 2.1.19: First CMBS Issues for 2019 See Strong Demand
7.3.17: Gross Profit Margins Now Transparent for CMBS Issues
Risk-retention rules have made the accurate calculation of gross profit margins for CMBS issues possible. Although the results do not include transaction expenses, the gross profit indications are more accurate than previous methods to “reverse engineer” the pricing results of the public bonds and … [Read more...] about 7.3.17: Gross Profit Margins Now Transparent for CMBS Issues
7.20.15: PKF Hospitality Research Issues U.S. Lodging Forecast
The outlook for the U.S. lodging industry continues to be extremely strong, according to the recently released June 2015 edition of PKF Hospitality Research’s (PKF-HR, a CBRE company) Hotel Horizons®. The report forecasts that U.S. hotels will continue to enjoy revenue per available room (RevPAR) … [Read more...] about 7.20.15: PKF Hospitality Research Issues U.S. Lodging Forecast
8.14.13: SBA Compliance Review — Critical Issues
Lenders need to monitor some missteps that could mean a possible impairment to the SBA guaranty and should be taken seriously when making, closing, and servicing an SBA loan portfolio should the lender be audited by the SBA. Examples of critical issues that are common in a loan review are as … [Read more...] about 8.14.13: SBA Compliance Review — Critical Issues
8.9.13: Market Swallows Flood of CMBS Issues at Tighter Spreads
CMBS buyers returned to the market to gobble up the latest wave of multi-borrower offerings – four deals totaling more than $4 billion. Furthermore, prices generally tightened on each issuance. Now, new-issue prices on benchmark paper from commercial MBS offerings have retraced almost half of their … [Read more...] about 8.9.13: Market Swallows Flood of CMBS Issues at Tighter Spreads
4.3.12: What’s the Direction of Debt Yield on CMBS 2.0 Issues?
Since the restart of the CMBS market in June 2010 when JPMorgan issued $716 million of CMBS, market participants have focused on a metric called debt yield. Debt yield is the property net cash flow (generally defined as actual income and expenses including management fees less capital reserves … [Read more...] about 4.3.12: What’s the Direction of Debt Yield on CMBS 2.0 Issues?
9.26.11: SBA Issues New Standard Operating Procedures for 7(a) and 504 Loans
The Office of Financial Assistance announced an update to the Standard Operating Procedure (SOP) 50 10 5. This update, known as SOP 50 10 5(D), will be effective on October 1, 2011. This version of the SOP will apply to all applications received by SBA on or after October 1, 2011. Change Highlights: … [Read more...] about 9.26.11: SBA Issues New Standard Operating Procedures for 7(a) and 504 Loans
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
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