CMBS conduit loan rates are listed on our website at valuexpress.com every Monday. To access our CMBS conduit loan rate sheet from the ValueXpress home page, click on “Loan Rate Sheet,” which is located at the lower right corner of the home page. On the new page that appears, you will be instructed to “Click on a title to access a printable document.” Click on “Loan Rate Sheet – CMBS Conduit” and a one-page .pdf document called “Indicative CMBS Conduit Loan Rates – $2 million – $100 million” appears.
Why not bookmark this page for direct access each Monday? Many of our mortgage banking associates who focus on the origination of CMBS conduit loans stick this Rate Sheet on their bulletin board each Monday. Then they have the current rates nearby when borrowers call for rates. In CMBS, rates are determined by adding the current swap rate (5-, 7- or 10-year swap, depending on the loan term) to the spread. The rate is determined at closing by adding the indexes together and the rate is fixed for the entire loan term.
Our Rate Sheet is useful for other purposes as well. It serves as a refresher that ValueXpress offers 5-, 7- or 10-year loan terms in CMBS, with loan payments based on 25- to 30-year amortization schedules. The sheet lists all the asset types that qualify for CMBS conduit loans. Furthermore, you can quickly see the underwriting criteria for each asset type, including minimum debt-service coverage ratio, maximum loan-to-value and minimum debt yield requirements.
“Although the interest rate spread is shown as a range, we can quickly determine a specific loan spread for any deal by running the rent roll and income and expense statements through our loan sizing and pricing models,” commented Michael D. Sneden, Executive Vice President at ValueXpress. “Please email me any deals that you need loan pricing on at email@example.com.”