Tommy Bastian has a great presentation on the "myths and reality" of foreclosing in Texas. He addresses several very important and unique attributes surrounding the foreclosure of securitized real estate loans. It is a very popular topic of readers of TT4L. Indeed, Courtney Bristow’s article is a top 5 download on the topic (published here almost… Continue Reading
Tag Archives: special servicing
Aesop’s Fable Update: CMBS Loan Production Slow; CMBS Special Servicing Fast
Posted in Good Times for Lenders, Market TrendsAesop’s fable of "The Tortoise and the Hare" makes for good bed time reading with the kids. It is a great lesson in consistency for the kids. "Slowly does it every time" said the smiling tortoise to the hare at the finish line. However, it is a painful picture in the work place, where the… Continue Reading
CMBS Loan Restructures: Pointed & Practical Advice to Borrowers
Posted in Tough Times for Lenders, Workout IssuesRecently, Housing Wire commented on the CMBS delinquency rate, and noted that although it fell recently, Fitch expects the upward trend to continue to a peak of around 10% later this year – although the trend line is slowing due to the recovering economy. The continuing problems with CMBS loan makes Courtney Bristow’s primer on… Continue Reading
‘Hot’ Topics from the MBA’s Servicing & Technology Conference
Posted in Good Times for Lenders, Market Trends, Tough Times for LendersFor the next couple of days, I’ll be giving you summaries from the MBA’s Servicing and Technology Conference. As you might suspect, the sessions focus on the ‘hot’ topics. Here are the sessions that have my attention: Federal legislation, regulatory reform, and the political climate, including REMIC reform, banking reform, risk-based capital requirements, the "new" CMBS 2.0,… Continue Reading
CRE Financial Reform And Market Trends: Opportunity For New Lending But More Extend & Pretend As Defaults Grow
Posted in Covered Bonds, Good Times for Lenders, Market TrendsJames Ruiz recently wrote a piece, published in the Texas Lawyer, summarizing the February 10, 2010 report (“Commercial Real Estate Loses and the Risk to Financial Stability”) issued by the Congressional Oversight Panel. (continue reading link below). It is a good summary of the Panel’s perspective of the credit problems in commercial real estate, and addresses the… Continue Reading
MBA-CREF Convention (day 3): Special Servicing TIPS; Life Co. Allocation TARGETS; and Real Money For Real People
Posted in Good Times for Lenders, Market Trends, Tough Times for Lenders, Workout Issues(This is the last in a series covering the MBA-CREF convention. In contrast to the first two days [link Day 1] [link Day 2] and our convention "preview" [link], this last posting focuses on the two polar extremes of the convention, and the industry.) For Chris Nixon [link to bio] and myself, day 3 of the… Continue Reading
Capital Market Scoreboard: Selected Topics from the CMSA January Conference
Posted in Good Times for Lenders, Market Trends, Technology (including Green Buildings), Training, Workout IssuesAs noted in my lengthy postings summarizing the recent 2010 CMSA January Conference in DC [Day 1 link; Day 2 link], over 1,000 commercial real estate professionals attended the conference – roughly 2X more than expected. Why this unexpected attendance? Answer: All of us are looking for answers amidst the continuing liquidity problems in the CRE Capital… Continue Reading
Capital Market Scorecard: Day 2 Summary (Part 1 of 2) from the CMSA January Conference (Bonus: Tech Tip – pins & passwords)
Posted in Good Times for Lenders, Market Trends, Technology (including Green Buildings)(When we attend industry conferences, we bring you along by blogging on topics of interest to us, with our comments as a bonus. This is the second in a series of posting relating to, and from, the 2010 CMSA January Conference. [Link to Day 1] Our blogs on other conferences are found [i] under the "Market Trends"… 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
Into the Looking Glass: MBA Servicing & Technology Conference – day two
Posted in Good Times for Lenders, Market Trends, Single Purpose Entity, Tough Times for Lenders, Workout IssuesYesterday (Thursday) was the second, and my last, day of the conference. As I did with the first day of the conference, I summarize some of the sessions. So, here’s the executive summary: From a session on bankruptcy issues: as reported by the Commercial Mortgage Securities Ass’n in its press release, the bankruptcy court in the General… Continue Reading
Into the Looking Glass: MBA Servicing & Technology conference – day one
Posted in Good Times for Lenders, Market Trends, Single Purpose Entity, Tough Times for Lenders, Training, Workout IssuesThe first day of the 2009 MBA’s Commercial/Multifamily Servicing and Technology conference has ended. It has been a long day, filled with attending panel presentations and meetings with people over meals, in the halls and at receptions. It started at a 7:30 breakfast and ended @ 10p (when I refused to join a group that headed toward… Continue Reading
Into the Looking Glass: Reports from the 2009 MBA Commercial\Multifamily Servicing & Technology Conference
Posted in Good Times for Lenders, Market Trends, Tax Issues, Tough Times for LendersOver the last 8 months, we’ve blogged in October from the EU, where we attended a real estate convention and visited with several clients (link to last day), and then in February from the MBA-CREF convention in San Diego (link to last day), This week, we’re attending the MBA’s Servicing & Technology Conference in New… Continue Reading