As I sat in the January Conference of the CMSA (now known as the Commercial Real Estate Finance Council), I noticed some startling changes (link to my blog postings): the January meeting once was called the "Investor’s Conference," with a focus on CMBS bond holder issues and topics with the CMBS market "kind of" alive,… Continue Reading
Tag Archives: CMSA
Senate Banking Committee Amends and Passes Reform Bill; CMSA Updates Its Summary and MBA Sees Risk Retention Problems
Posted in Good Times for Lenders, Market TrendsOn Monday (March 22, 2010), the Senate Banking Committee voted along party lines and passed the "Restoring American Financial Stability Act of 2010" (with a 13 to 10 vote). So, Senator Dodd’s financial reform bill makes its way out of the Senate Banking Committee. And now the bigger battle begins. But not before Committee members… Continue Reading
Senate Banking Committee Releases Financial Reform Legislation (Restoring American Financial Stability Act of 2010): CMSA Summary
Posted in Good Times for Lenders, Market TrendsOn Monday, March 15, the Senate Banking Committee released it’s draft of the "Restoring American Financial Stability Act of 2010" [click name to download it]. It is long: 1336 pages. And no surprise at this: it is complicated. Provisions include creation of a consumer protection watchdog housed in the Federal Reserve; creation of a nine-member Financial… Continue Reading
Covered Bonds: Still on the Agenda
Posted in Good Times for Lenders, Market TrendsCommentators note that one great attribute of the Internet, and the communities formed within and around it, is this: when someone wanders off (or climbs on a ledge), the community does a good job of nudging each other back to the group. Yes, I was a little disappointed (OK, even upset) at the lack of… Continue Reading
Dealing With a Distressed CBMS Loan? New Guidance from the Feds
Posted in Tax Issues, Tough Times for Lenders, Workout IssuesSick and beyond tired of the inflexibility of CMBS servicers in making needed modifications to CMBS loans that we all know are in the ditch? Help might be here: On September 15, 2009, the IRS and the Department of the Treasury issued three pieces of guidance relating to commercial mortgage loans held by a securitization… Continue Reading