Monthly Archives: July 2011

7.29.11: CMBS Spreads Blow Out; Borrowers Repriced

The CMBS market suffered a setback last week when bond spreads widened sharply again.  According to Commercial Mortgage Alert, the spread on the benchmark triple-A class of an offering led by Wells Fargo and RBS priced on Thursday, July 21 … Continue reading

Posted in CMBS Securities, Commercial Mortgage-Backed Securities, Michael D. Sneden, News & Recent Closings, The Banker's Mortgage Conduit, Valuexpress | Tagged , , | Leave a comment

7.28.11: S&P Suspends Ratings on New Issue CMBS 2.0 Deals

RBS reported that Standard and Poor’s Rating Services (S&P) announced on July 27 it will not currently assign ratings to U.S. conduit CMBS transactions, including the most recent $1.5-billion CMBS transaction offered by Goldman Sachs Group Inc. and Citigroup, Inc. … Continue reading

Posted in CMBS Conduit Loans, Commercial Mortgage-Backed Securities, Michael D. Sneden, News & Recent Closings, The Banker's Mortgage Conduit, Valuexpress | Tagged , , , | 1 Comment

7.20.11: Inspector General Issues Scathing Audit Criticizing Banco Popular Regarding SBA Loan Underwriting

On July 13, SBA’s Inspector General (IG) issued a scathing audit criticizing Banco Popular for its underwriting procedures for the Huntington Learning Centers (HLC) franchise.  The IG wrote that the bank failed to properly analyze and underwrite applicant projections.  This … Continue reading

Posted in Michael D. Sneden, News & Recent Closings, SBA, SBA Loan Processing, SBA Loans, The Banker's Mortgage Conduit, Valuexpress | Tagged , , | Leave a comment

ValueXpress Obtains $5.15-Million Commitment for the Purchase of an Independent Limited Service Hotel in Long Island City, NY

ValueXpress obtained a $5.15-million first-mortgage loan commitment from its New York banking partner, Country Bank, for the purchase of an independent limited service hotel in the Long Island City section of Queens, NY. The property is a 3-story, interior corridor, … Continue reading

Posted in Commercial Lending, Commercial Real Estate Loans, Michael D. Sneden, News & Recent Closings, Valuexpress | Tagged , , , , | Leave a comment

7.15.11: ValueXpress iPad Free Raffle at Upcoming Trade Show in New Orleans, LA

After the terrific response to our iPad raffle at the Asian-American Hotel Owners Convention, ValueXpress plans to give away an iPad to another lucky winner at the upcoming Leuva Patidar Samaj of USA National Convention and Trade Show in New … Continue reading

Posted in Leuva Patidar Samaj of USA, Michael D. Sneden, News & Recent Closings, The Banker's Mortgage Conduit, Valuexpress | Tagged , , , | Leave a comment

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 … Continue reading

Posted in CMBS, CMBS Securities, Michael D. Sneden, News & Recent Closings, Senior Investment-Grade CMBS, The Banker's Mortgage Conduit, Valuexpress | Tagged , | Leave a comment

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 … Continue reading

Posted in Commercial Lending, Commercial Real Estate Loans, Michael D. Sneden, News & Recent Closings, The Banker's Mortgage Conduit | Tagged , | Leave a comment