ValueXpress has closed on approvals for over 40 performing loan requests from Master and Special servicers for its hotel clients since June. While each approval has been unique, each approval generally consisted of the following terms: 90-day temporary loan modification during which time … [Read more...] about 10.1.20: YOUR 3-MONTH CMBS FORBEARANCE IS UP. NOW WHAT?
Investors abandoned risky assets after rising U.S.-China trade tensions quashed expectations of a near-term resolution, feeding concerns about economic growth and corporate earnings prospects. U.S. Treasury prices climbed amid a flight to quality, sending the yield on the benchmark 10-year note … [Read more...] about 5.23.19: 10-Year Treasury Yield Hits 18-Month Low
The spread on the super-senior AAA-rated class of CMBS fell to its lowest level in almost eight months, according to Commercial Mortgage Alert. The result reflects pent-up demand due to sagging CMBS issuance so far this year. Goldman Sachs and Citigroup yesterday placed the long-term, … [Read more...] about 5.13.19: Key CMBS Spread Hits 8-Month Low
The super-senior benchmark AAA-rated class of a multi-borrower CMBS conduit offering led by J.P. Morgan priced on June 12 at the tightest level since February 2013. The benchmark class priced at 79 basis points (bp) over swaps. The last time the CMBS market achieved that level was on February 5, … [Read more...] about 6.12.14: Super-Senior CMBS Spreads Decline to 16-Month Low
The yield on the benchmark 10-year Treasury note fell on Thursday, May 15, 2014 to close at 2.50%, a low not seen since last October. Intraday, the note touched 2.47%. Although investors have been expecting rates to rise, the bond market is not cooperating, confounding economists. Weak economic … [Read more...] about 5.16.14: 10-Year Treasury Yield Hits 9-Month Low; Swaps Follow
The percentage of loans paying off on their balloon date hit a 12-month low last month, according to the just-released Trepp July 2012 Payoff Report. With only 26.3% of loans reaching their balloon date paid off, the July total was well under the 12-month average of 41.6%. (This number simply sums … [Read more...] about 8.7.12: July Payoff Report: Percentage of Loans Paying Off Hits New 12-Month Low