4.14.14: CCTG Graduates Gaining Traction in CMBS Originations

Graduates of the Commercial Capital Training Group (CCTG), a training program for individuals who want to enter or expand their reach in the commercial real estate finance business, are finding that CMBS conduit lending can be a lucrative product for their business.

“My associate Kevin Monahan began training CCTG graduates in 2012 about the CMBS conduit loan product,” commented Michael D. Sneden, Executive Vice President at ValueXpress. “He thoroughly enjoyed sharing his knowledge with the students until his untimely death from pancreatic cancer in the fall of 2013.”

“At the recommendation of Kris Roglieri and Jon Cosentino, the founders of CCTG, I took over the reigns from Kevin and have been teaching 10-15 new students each month since November 2013 at the school in Albany, N.Y.” said Sneden. “The students are enthusiastic about CMBS conduit lending once they learn of its unrestricted cash out, non-recourse structure and nationwide footprint, in addition to generally high loan balances that generate large fees per transaction.”

“We act as the back office for the grads, gathering diligence, performing loan sizing, obtaining loan approvals and term sheets, completing diligence and closing loans,” commented Jim Brett, head of loan underwriting at ValueXpress. “As graduates become confident that they have a partner that will get the loan closed, more and more graduates are embracing the CMBS conduit loan product.”

Of the over 400 graduates, many have decided that CMBS conduit loans should be one of their primary focuses. As a result, ValueXpress is processing increasing amounts of CMBS conduit loans for CCTG graduates with a very high level of success.

 

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This entry was posted in CMBS, Commercial Lending, Commercial Real Estate Loans, Michael D. Sneden, News & Recent Closings, The Banker's Mortgage Conduit, Valuexpress and tagged , , , , , , . Bookmark the permalink.

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