President Trump signed into law a second round of Covid-19 relief on Sunday, December 27. While the details are being reviewed, the bill contains the following provisions regarding a second round of Payment Protection Program (PPP) loans. The new round is known as PPP 2.0 and has the following … [Read more...] about 12.28.20: SECOND ROUND OF PPP LOANS SIGNED INTO LAW
12.1.20: STEP-DOWN PREPAYMENT LOANS ARE BACK!
ValueXpress has been originating CMBS conduit loans for over 25 years. We are a leader in originating loans for newly launched CMBS programs that offer a better value proposition for our clients than existing options. When new programs are developed, we are the first to know as ValueXpress is sought … [Read more...] about 12.1.20: STEP-DOWN PREPAYMENT LOANS ARE BACK!
11.17.20: TREPP PREDICTS MINIMUM 10% INCREASE IN CMBS LOANS FOR 2021
According to a recent report from Trepp, private-label CMBS issuance is projected to rise at least 10% in 2021 from 2020’s depressed levels. So far, $50.6 billion of conduit and single-borrower transactions have priced in 2020. Including deals slated for December, 2020 will finish with about $55-$60 … [Read more...] about 11.17.20: TREPP PREDICTS MINIMUM 10% INCREASE IN CMBS LOANS FOR 2021
11.1.20: BRIDGE LENDERS GEAR UP FOR RESCUE LOANS
Banks are beginning to increase pressure on borrowers with non-performing loans to pay or find financing elsewhere. Borrowers with low-leverage loans pre-COVID that simply need time to restabilize are turning to the bridge loan market for alternatives. The situation is particularly acute in the … [Read more...] about 11.1.20: BRIDGE LENDERS GEAR UP FOR RESCUE LOANS
8.1.20: INVESTOR DEMAND STRONG FOR NEW CMBS LOANS
Two multi-borrower CMBS issues priced in July at the tightest spreads since the start of the COVID-19 pandemic. The offerings were a $1.1-billion offering led by Deutsche Bank, Citigroup, J.P. Morgan and Goldman Sachs (BMARK 2020-B18) and a $690.6-million offering led by Morgan Stanley and Barclays … [Read more...] about 8.1.20: INVESTOR DEMAND STRONG FOR NEW CMBS LOANS
7.15.20: VALUEXPRESS PROVIDING SBA 7(a) LOANS ON HOTELS
CMBS conduit loans are temporarily unavailable for hotels until operating performance recovers from the effects of COVID-19. In the meantime, to assist clients and borrowers, ValueXpress is providing SBA 7(a) loans up to $5 million on all owner-operated hotels, including independent hotels. The … [Read more...] about 7.15.20: VALUEXPRESS PROVIDING SBA 7(a) LOANS ON HOTELS
7.9.20: SBA WAIVES PAYMENTS ON 7(A) AND 504 LOANS THROUGH SEPTEMBER 27
The SBA is providing a financial reprieve to small businesses during the COVID-19 pandemic by paying six months of loan payments for new and existing borrowers. Below is a summary of the assistance. As part of our coronavirus debt relief efforts, the SBA will pay 6 months of principal, interest … [Read more...] about 7.9.20: SBA WAIVES PAYMENTS ON 7(A) AND 504 LOANS THROUGH SEPTEMBER 27
7.5.20: CMBS SERVICERS ARE NOT APPROVING ECONOMIC INJURY DISASTER LOANS (EIDL)
EIDL loans are now readily available to hoteliers up to $150,000 per property. Borrowers should be aware, however, that CMBS servicers are not approving these loans by waiving any covenant violations in CMBS loan agreements. Below is a typical servicer response to an EIDL approval request. We … [Read more...] about 7.5.20: CMBS SERVICERS ARE NOT APPROVING ECONOMIC INJURY DISASTER LOANS (EIDL)
6.12.20: VALUEXPRESS ACTIVELY SEEKING CMBS CONDUIT LOANS
ValueXpress is actively seeking new CMBS conduit loans. We are pursuing multifamily, manufactured housing community (MHC), self-storage, industrial, retail and office loans. Hotels remain on pause unless performance was unaffected by COVID-19. Interest rates are in the 4.00%-4.50% range. We are … [Read more...] about 6.12.20: VALUEXPRESS ACTIVELY SEEKING CMBS CONDUIT LOANS
5.21.20: CMBS BORROWERS TAKE NOTE: PAYMENT PROTECTION LOANS REQUIRE SERVICER APPROVAL
Many CMBS borrowers, particularly hotel borrowers, are obtaining Payment Protection Program (PPP) loans. Borrowers should be aware that PPP loans violate CMBS Loan Agreements, and PPP loans should be disclosed and approved by the loan servicer. CMBS borrowers are required at all times to be a … [Read more...] about 5.21.20: CMBS BORROWERS TAKE NOTE: PAYMENT PROTECTION LOANS REQUIRE SERVICER APPROVAL
