April 22, 2004 | Vol. 1 No. 2

04/22/2004 Issue

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Volume 1 - Number 2 | April 22, 2004

CMBS forum - April 22 - Vol. 1, Issue 2

Top Story: Proposed REMIC Reform Could Spur CMBS Growth, Increase Loan Flexibility
It might seem like a minor rule change, but some industry leaders say a bill before Congress aimed at reforming the tax structure of mortgage-backed securities could make CMBS more attractive to borrowers.

CMBS Insider: Peter F. Korpacz, PricewaterhouseCoopers
Prices are falling, pricing are falling! So went the real estate and business media a couple of weeks ago shortly after PricewaterhouseCoopers’ quarterly real estate investor survey came out. One of the data points in the 80-plus-page tome suggested that survey respondents were a little worried that commercial real estate prices were too high and headed for an eventual—not to mention, painful—fall.

LTV Ratios Hit New Heights In CMBS Loans
The ratio of loans to value in CMBS may be reaching new heights. The average conduit loan-to-value ratio topped 93% in the first quarter, according to a Moody’s Investors Service study due to be released at the end of this month.That’s the highest level the agency has recorded since it began tracking that figure in 1997.

Multifamily Insiders: Vacancies Not An Issue
The multifamily sector might seem as if it’s on life support, but analysts say it’s not critical—good news for a sector which comprises a quarter of existing CMBS loans.

Front & Center: The Buzz on the Street....

CMBS Marketpulse: What's Hot, What's Not

CMBS Deals

FocusPoint: Dallas, Seattle, Cleveland Lag In CMBS Loan Payments