There’s No Crying in Baseball CMBS!!!
by Pam Banegas
CMBS experts secretly snicker when asking a potential client if they have ever been involved in a CMBS assumption or loan resolution and the response is “well” …or “I’m not sure” …or there’s a long pause for thought, but no reply! We don’t secretly snicker to be unkind or harsh. We do it because – and trust us on this – you would KNOW if you’ve ever been involved in any CMBS dealings, particularly with the servicers! Most folks recognize right away that CMBS = stress.
When going through a CMBS “process” (even a seemingly small request), the perception is someone is adamantly stating, “There’s no crying in [CMBS]!” But, often, after submitting the request, it’s struck down without explanation. You want to retort with a “Start using your head. That’s the lump three feet above your @$$” only because it feels like there’s no logic being used. This one-sided banter can go on and on and nothing gets resolved.
That is why Borrower Advocacy was developed. CMBS processes and negotiations are hard. “It’s supposed to be hard. If it wasn’t hard everyone would do it.” Find an expert who takes the stress out of CMBS for you by following the philosophy that “the hard is what makes it great!”