The Employee Retention Tax Credit (ERC) is a refundable tax credit designed to reward business owners for retaining employees throughout the COVID-19 pandemic. The ERC is available to both small- and mid-sized businesses. It was signed into law on March 27, 2020, as part of the CARES Act. The bill … [Read more...] about 5.21.22: CONSIDER APPLYING FOR AN EMPLOYEE RETENTION CREDIT
2.1.17: And Risk Retention May Be Helping, Not Hurting Pricing …
CMBS market participants are breathing a sigh of relief as fully-complaint risk retention deals are being well received in the market. Whereas industry pros were concerned that the effects of the rules would make CMBS loans uncompetitive, the reverse is occurring, at least right now. The most recent … [Read more...] about 2.1.17: And Risk Retention May Be Helping, Not Hurting Pricing …
9.18.16: CMBS Market Prepares for Costs Related to Risk Retention
Borrowers should expect a modest increase in loan spreads beginning in late October as the market prepares for the economic impact of risk retention rules that take effect December 24. Initially CMBS lenders projected the increase on loan spreads would be as much as 50 basis points (bp), but now … [Read more...] about 9.18.16: CMBS Market Prepares for Costs Related to Risk Retention
8.5.16: “Risk Retention” CMBS Deal Prices at Tight Spreads
A new issue CMBS conduit transaction priced on Thursday, August 4 at the tightest spreads since summer 2015. The issuers, Wells Fargo, Bank of America and Morgan Stanley, priced the long-term super-senior bonds from the $871-million offering at 94 basis points (bp) over swaps. This was significantly … [Read more...] about 8.5.16: “Risk Retention” CMBS Deal Prices at Tight Spreads
7.8.16: Latest Twist in Risk-Retention Structure
Rialto Capital has agreed to buy the subordinate portion of the first commercial MBS deal that will be structured to comply with impending risk-retention rules, according to Commercial Mortgage Alert. The roughly $800-million offering is scheduled to hit the market this month. It will be backed by … [Read more...] about 7.8.16: Latest Twist in Risk-Retention Structure
5.27.16: CMBS Lenders Test Risk-Retention Structures
Effective December 24, 2016, CMBS issuers -- or B-piece buyers in their stead -- will be required to retain 5% of transactions for at least five years. CMBS issuers can retain a “vertical strip” encompassing 5% of every tranche, a “horizontal” 5% strip at the bottom of the capital stack, or an … [Read more...] about 5.27.16: CMBS Lenders Test Risk-Retention Structures
4.15.16: Watching Out for Risk Retention
With CMBS prices stabilizing at levels that provide a reasonable interest rate for borrowers, the next cloud on the horizon is risk retention. Beginning December 24, 2016, under new Dodd-Frank federal regulations, CMBS issuers will be required to retain a 5% slice (“risk retention”) of every new … [Read more...] about 4.15.16: Watching Out for Risk Retention
4.11.16: Prime Finance Circles First CMBS B-Piece with an Eye on Risk Retention
Prime Finance has entered the CMBS b-piece market, circling its first two subordinate bond investments from CMBS deals led by Wells Fargo and Citigroup. The deals should be announced in the next few weeks. Prime is a private commercial real estate finance company that originates primarily bridge … [Read more...] about 4.11.16: Prime Finance Circles First CMBS B-Piece with an Eye on Risk Retention
2.25.16: MBA, Trade Groups Urge Changes to CRE Risk Retention Rule
The Mortgage Bankers Association (MBA) and other industry trade groups asked the U.S. House Financial Services Committee to approve a bill that would amend the Securities Exchange Act to modify requirements for qualified commercial real estate. The rules, as written, are expected to negatively … [Read more...] about 2.25.16: MBA, Trade Groups Urge Changes to CRE Risk Retention Rule
8.4.15: Risk Retention Rules for CMBS Not Far Away
On October 22, 2014, the federal regulatory agencies responsible for implementing regulations under Dodd-Frank risk-retention rules for CMBS transactions finalized the rules. In a nutshell, the rules will effectively apply to the riskiest 5% of each CMBS issue. With CMBS issues averaging roughly $1 … [Read more...] about 8.4.15: Risk Retention Rules for CMBS Not Far Away
