Not much glamour around CMBS.com the last few weeks. We’ve been working hard “clearing” deals to add to our CMBS library. To clear a deal, we must tie out the loans from the setup file with the loans being reported on the Trustee IRPs. This is a slow, labor-intensive process. Once we tie these loans out, […]
I just returned from the MBA’s annual Commercial Real Estate Finance (CREF) conference in San Diego. While we were there, the government announced $100 billion from the new bailout plan would be used to provide leverage to investors in AAA CMBS. Most people at the conference were excited. Personally, while I welcome government leadership on […]
I became such a Metallica groupie last week that my friends are calling me Penny Lane, the “Band Aid” groupie character played by Kate Hudson in the movie Almost Famous. They accuse me of having a “man” crush on Lars — Ahh, jealousy does not wear well on them. Where to find the best shows […]
Today John Courson of the MBA held a conference call with the residential and commercial leadership of MISMO to let us know that MERS, Mortgage Electronic Registry System, has taken over management of MISMO (See news release below). MERS was created by the industry (the MBA has an ownership stake in MERS) to facilitate the electronic […]
I have been looking forward to this week for months. Metallica is finishing up their North American Tour in support of their Grammy nominated new album Death Magnetic with shows in Chicago and New York. I am friends with drummer Lars Ulrich, so I have the privilege of getting great seats and passes to their […]
Attending the inauguration of our 44th President made me feel inspired and hopeful. My wife and I went as guests of the MBA’s political action committee (MORPAC) — and we felt like we witnessed history. The group we were with consisted of both democrats and republicans (and at least one libertarian) but all were moved […]
This year’s CMSA conference was a lot less depressing than I expected. Not because there’s any sense that the market is going to recover in 2009 — everyone is predicting next to zero lending — but because of these three facts: 1) The people who still attend these conferences are survivors at firms that are committed […]
The Exposure Draft of IRP 6 (called “IRP X”) has been released. It contains essentially the same content as IRP 5, but in XML. I applaud both the CMSA and the MBA for getting that done. It is a critical step not only in organizing the basic data, but also in starting the comment period […]
The much anticipated investor forum was a bit disappointing. I agreed with almost everything they said, and I liked the fact that it was delivered with a bit of an angry edge. The problem was that the laundry list lasted the entire session, and they left no time for questions, discussion and comments.
Great news: I’ve been voted to serve on the MISMO Commercial Governance Committee for 2009 and 2010. Thanks to everyone who voted for me. I look forward to serving the industry. More great news: This weekend we will roll out a new site and a new set of research and analytical tools for CMBS Investors. This is […]
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