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
9.13.11: Rates on Fannie Mae Loans Continue to Decline
With 10-year Treasury rates below 2%, borrowers that qualify for Fannie Mae (and Freddie Mac) multifamily loans are seeing loan quotes at levels not seen since the formation of the Fannie Mae multifamily program in the 1950s. ValueXpress is active in both the Fannie Mae Delegated Underwriting and … [Read more...] about 9.13.11: Rates on Fannie Mae Loans Continue to Decline
9.8.11: SBA 504 Loans Hit Record-Low Interest Rates for September
The Small Business Administration's (SBA) 504 loan program is providing long-term, fixed-rate financing for commercial real estate and the purchase of long-term capital assets at the lowest interest rates since the program's inception. The debentures that funded this month's 20-year 504 loans were … [Read more...] about 9.8.11: SBA 504 Loans Hit Record-Low Interest Rates for September
9.6.11: Freddie MAC to Step Up Multifamily Loans
Freddie Mac plans to accelerate its program to purchase loans backed by apartment buildings, increasing the availability of financing for landlords and helping bolster the multifamily real-estate market. Freddie Mac, the U.S. government-backed mortgage-finance giant, will likely fund more than $16 … [Read more...] about 9.6.11: Freddie MAC to Step Up Multifamily Loans
8.4.11: SBA Aims to Avoid Shutdown as 7(a) Loans Approach Cap
With more than two months left in its fiscal year, the SBA has approved more than $16.4 billion in loans through its flagship 7(a) lending program. This record pace, however, has its downside. The 7(a) program is authorized to do only $17.5 billion in loans this fiscal year. Once that cap is … [Read more...] about 8.4.11: SBA Aims to Avoid Shutdown as 7(a) Loans Approach Cap
7.6.11: ValueXpress Seeks Large High Leverage Hotel Loans
A key ValueXpress lending partner continues to seek high leverage hospitality loans. The bridge loan program is designed for transactions with loan amounts of at least $20 million for properties seeking shorter term funds to restabilize property cash flow after the recession, newer properties that … [Read more...] about 7.6.11: ValueXpress Seeks Large High Leverage Hotel Loans
4.19.11: Underwriting on CMBS Loans Loosens as Cautious Optimism Hits
Underwriting on CMBS loans is loosening as originators compete for more business in a sector that's starting to heat up again. "The first transactions to emerge from CMBS 2.0 were very conservative in most facets, benefiting an industry emerging from a very stressful period," said Huxley Somerville, … [Read more...] about 4.19.11: Underwriting on CMBS Loans Loosens as Cautious Optimism Hits
4.15.11: SBA Requiring Reserves for Certain Lenders Selling Loans in the Secondary Market
In 2009 and 2010, the SBA provided notice that it was increasing its level of supervision over certain higher risk SBA lenders that participate in the secondary market. Specifically, the notices covered all SBA lenders that seek to sell loans into the secondary market and are subject to (1) a Cease … [Read more...] about 4.15.11: SBA Requiring Reserves for Certain Lenders Selling Loans in the Secondary Market
3.24.11: Competition Heats Up for CMBS Conduit Loans
The successful CMBS offering by Goldman Sachs and Citigroup (see our 3.23.11 News Article) that priced on March 23rd marks the fifth multi-borrower deal completed in 2011. Combined issuance in the five deals totaled nearly $8 billion. With over 20 CMBS conduit shops having jumped into the resurgent … [Read more...] about 3.24.11: Competition Heats Up for CMBS Conduit Loans
2.4.11: SBA Removes Warranty Period for Loans Sold at a Premium in the Secondary Market
Form 1086 has been updated to include clarifications to prevailing program rules along with additional lender certifications. In a program notice to SBA employees and SBA Lenders, the SBA updated Form 1086, Secondary Participation Guaranty Agreement (Form 1086) that is used in the 7(a) loan program … [Read more...] about 2.4.11: SBA Removes Warranty Period for Loans Sold at a Premium in the Secondary Market