CMBS conduit loan rates are holding relatively steady despite market turbulence surrounding the European debt crisis. Fixed income professionals are increasingly worried about whether Greece will exit the European Union and whether debt-related trouble will spread to Spain, Italy and Ireland. … [Read more...] about 6.15.12: CMBS Conduit Loan Rates Steady Despite Capital Market Turbulence
7.14.11: Soft Market Confronts CMBS Offerings
According to Commercial Mortgage Alert, the latest weakening in the CMBS market makes it likely that a pair of $1.5-billion multi-borrower issues due to price the week of July 18 will wind up with senior spreads matching the widest levels seen this year. Goldman Sachs and Citigroup are leading one … [Read more...] about 7.14.11: Soft Market Confronts CMBS Offerings
5.31.11: Growing SBA 504 Secondary Market
According to Jordan Blanchard at CDC Direct, May was a very active month for SBA 504 First Mortgage Pool (FMP) originators. Four pools settled a total of just over $18 million (guaranteed portion). Total 504 FMP volume through May 2011 is $135.7 million. With 18 pools issued to date, the average … [Read more...] about 5.31.11: Growing SBA 504 Secondary Market
2.28.11: S&P: Larger CMBS Deals to Market after Period of Stagnation
Larger commercial mortgage-backed securities deals are starting to come back to the market just 15 months after a few smaller transactions priced following a period of dormancy, according to an S&P research note this week. The return of the market, referred to as CMBS 2.0, began in late 2009 … [Read more...] about 2.28.11: S&P: Larger CMBS Deals to Market after Period of Stagnation
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
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*
6.24.10: 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
2.5.10: Fourth-Quarter 2009 Lending Market Review
Fourth-quarter 2009 saw an improved lending environment. Each of the following had a positive effect in the market that should lead to more commercial lending in 2010: CMBS securities prices continued to climb on existing senior investment-grade CMBS, reducing investor yields. Prices for older … [Read more...] about 2.5.10: Fourth-Quarter 2009 Lending Market Review