by admin | Mar 7, 2013 | Blog |
As the recovery grinds forward there are still plenty of distress commercial real estate investment opportunities. Join Michael and his guests as they share the state of distress market including the volume of loans in default, upcoming loan maturities and the...
by admin | Mar 6, 2013 | Blog |
THE single most important thing that matters relative to the performance of a CMBS loan is the YEAR OF ORIGINATION of that loan. Of the approximate $75 billion in special servicing at yearend 2012, the vast majority of the loans were originated in 2006 or 2007....
by admin | Jan 23, 2013 | Blog |
2012 was the first year that had active changes from one Special Servicer to another due to the large amount of losses being passed through to the bond holders. The lowest rated bond holder at any given time in a CMBS pool has CONTROL over the ultimate resolution on a...
by admin | Nov 16, 2012 | Blog |
Here we are, almost at the end of 2012, and that question is still lingering! That was a common question back in the early 2000’s. The rating agencies actually conducted a survey in the mid 2000’s to see how long it was taking to approve a CMBS assumption and what...
by admin | Nov 5, 2012 | Blog |
Who watches out for bond holders once CMBS loans go into default? It was supposed to be the special servicers, even though CMBS pioneers in the mid 1990’s privately had questioned how special servicers could handle a deluge of problem loans, complex loan documents and...
by admin | Oct 19, 2012 | Blog |
It is a fact that the special servicer in a CMBS pool must ultimately chose the outcome that will result in the highest net present value (“NPV”) to the bondholders. In fact, the only real standard that the CMBS special servicers have is what is called the servicing...
