Monthly Archives: April 2015

4.17.15: Will Fannie/Freddie Multifamily Loan Limits Create Opportunity for CMBS

The Federal Housing Finance Agency (FHFA) has set a cap of $30 billion each in multifamily loan purchases for Fannie Mae and Freddie Mac for 2015. With both agencies off to a great start through the first quarter of 2015, … Continue reading

Posted in CMBS Conduit Loans, Commercial Real Estate Loans, Fannie Mae, Freddie Mac, Michael D. Sneden, News & Recent Closings, The Banker's Mortgage Conduit, Valuexpress | Tagged , , , , , , , | Leave a comment

4.13.15: Is Credit Quality Eroding for CMBS Conduit Loans

Last March we reported on deteriorating credit quality based on data provided by the rating agency Kroll. At that time, Kroll reported gradual deterioration over the prior year in underwriting standards for the 20 largest loans in Kroll-rated transactions, particularly at … Continue reading

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

4.6.15: SBA Guarantee Premiums Remain at Attractive Levels

It has been a while since we reported on the sale of SBA 7(a) loan guarantees, primarily because pricing has not moved much over the past year. After post-crash premiums peaked at 118.75 in February 2013, pricing gradually declined during … Continue reading

Posted in Commercial Lending, Commercial Real Estate Loans, Michael D. Sneden, News & Recent Closings, SBA, SBA 7(a), The Banker's Mortgage Conduit, Valuexpress | Tagged , | Leave a comment

ValueXpress Obtains $4-Million CMBS Conduit Loan for Hastings Self-Storage in Westchester County, NY

ValueXpress obtained a $4-million CMBS conduit loan to refinance a $3-million CMBS conduit loan that ValueXpress provided to the sponsor ten years ago. The property, Hastings Self-Storage, is located on the west side of Saw Mill River Road, just south … Continue reading

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

4.3.15: Franchise Expirations Becoming a Headache for CMBS Conduit Hotel Loans

The buyers of the most risky CMBS securities, sometime referred to as the “b-buyers,” have laid down some pretty strict guidelines for the remaining minimum term for franchise agreements on hotels to be eligible for CMBS conduit loans. As the … Continue reading

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

4.2.15: 10-Year Swap Rate Falls Below 2.0%, Again

On Thursday, April 2, the 10-year swap rate once again fell below 2.0%, after Labor Department data showed U.S. employers added the fewest jobs in March in more than a year. The rise of 126,000 jobs was well below expectations … Continue reading

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

3.28.15: CMBS Volume Strong in First Quarter of 2015

U.S. CMBS issuance soared 33% in the first quarter of 2015 compared with the same period in 2014, according to Commercial Mortgage Alert. Volume totaled $27 billion for the January-March quarter, up from $20.4 billion a year earlier. Volume would … Continue reading

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