The Mortgage Bankers Association has announced it will take back management of MISMO from MERS Corp effective December 1, 2011. MISMO has always been a wholly owned, not-for-profit subsidiary of the MBA but, back in February 2009 during the depths of the financial crisis, the MBA transferred management of MISMO to MERS as a cost-cutting […]
https://www.cmbs.com/wp-content/uploads/2019/03/cmbslogo030619.png00jimflahertyhttps://www.cmbs.com/wp-content/uploads/2019/03/cmbslogo030619.pngjimflaherty2011-09-28 19:09:262020-09-16 19:11:34MBS Taking Back MISMO Management
Every year on September 11, I join most people in the nation and reflect on the terror attacks of that day. I was in New York Tuesday, Sept. 11, 2011 — and I witnessed the destruction firsthand. I was blessed that the meeting I had scheduled for 8:30 a.m. in Tower One at the Windows […]
https://www.cmbs.com/wp-content/uploads/2019/03/cmbslogo030619.png00jimflahertyhttps://www.cmbs.com/wp-content/uploads/2019/03/cmbslogo030619.pngjimflaherty2011-09-17 19:11:582020-09-16 19:15:2110 Years On and Rocking
The CMBS deal recently priced by Deutsche Bank and UBS was the first deal since the market crash to include publicly registered bonds (all other post crash securitizations issued private bonds using the 144A Rule). This is a big deal. Most people agree that for the CMBS market to truly recover, we have to issue […]
The SEC recently “re-proposed” for public comment proposed new rules for asset backed securitization eligibility that has come to be known as Reg AB II. These proposed rules suggest changes to the current securitization regulations and cover multiple reforms on everything from asset-level disclosures on both public and private deals, to the role of the rating […]
https://www.cmbs.com/wp-content/uploads/2019/03/cmbslogo030619.png00jimflahertyhttps://www.cmbs.com/wp-content/uploads/2019/03/cmbslogo030619.pngjimflaherty2011-08-29 19:17:282020-09-16 19:18:40Reg AB II Movement
The leadership at C-MISMO (which I am a part of) has been trying to decide the next steps to promote standards adoption. Toward that end, we hosted a “MISMO Summit” in May to seek support. At the meeting, it was clear a group of people wanted to put the entire effort into a hibernation mode. […]
I attended the CREFC Annual Conference last week in New York, which was also attended by about 1,000 people representing all the different segments of the CMBS industry (Issuers, Investors, Servicers, and Professionals). I would describe the mood as cautious due to recent spread widening, a perception that CMBS underwriting standards have already deteriorated and […]
I’m fresh back from a pair of industry get-togethers. C-MISMO is floundering; retail seems to be recovering. MISMO Summit Last week I was in Chicago at the MBA’s annual Commercial Servicing and Technology Conference, where we hosted a MISMO summit in an effort to promote the adoption of industry standards. The meeting was fairly well […]
Lots going on this week, including a MISMO Data Summit, federal risk retention proposals and the end of Osama Bin Laden. MISMO Data Summit Plans are full steam ahead for a C-MISMO data “Summit” May 16 at the MBA Servicing and Technology Conference in Chicago. About 75 individuals from 30 companies got personal invitations. The […]
The industry trade group that controls the reporting standards for CMBS reporting, the CRE Finance Council, released the consensus version of the new reporting requirements for CMBS 2.0. The trade group spent over a year with investors, issuers and servicers trying to reach consensus on best practices and disclosure levels. Standardized Annex A The biggest […]
We in the Commercial Mortgaging Industry Standards Maintenance Organization (C-MISMO) have been trying to come up with our strategic goals for 2011. As a starting point to determine these goals, we are using the results of a 2010 survey the MBA commissioned by the Vertical Industry Standards and Technology Adoption (VISTA) project. The survey basically […]
https://www.cmbs.com/wp-content/uploads/2019/03/cmbslogo030619.png00jimflahertyhttps://www.cmbs.com/wp-content/uploads/2019/03/cmbslogo030619.pngjimflaherty2011-03-14 19:28:422020-09-16 19:30:29Why are MISMO standards not being adopted?
MBS Taking Back MISMO Management
/0 Comments/in Industry news, Industry standards /by jimflahertyThe Mortgage Bankers Association has announced it will take back management of MISMO from MERS Corp effective December 1, 2011. MISMO has always been a wholly owned, not-for-profit subsidiary of the MBA but, back in February 2009 during the depths of the financial crisis, the MBA transferred management of MISMO to MERS as a cost-cutting […]
10 Years On and Rocking
/0 Comments/in What's going on /by jimflahertyEvery year on September 11, I join most people in the nation and reflect on the terror attacks of that day. I was in New York Tuesday, Sept. 11, 2011 — and I witnessed the destruction firsthand. I was blessed that the meeting I had scheduled for 8:30 a.m. in Tower One at the Windows […]
First Public Deal of CMBS 2.0 Highlights Disclosure Issues
/0 Comments/in Industry news /by jimflahertyThe CMBS deal recently priced by Deutsche Bank and UBS was the first deal since the market crash to include publicly registered bonds (all other post crash securitizations issued private bonds using the 144A Rule). This is a big deal. Most people agree that for the CMBS market to truly recover, we have to issue […]
Reg AB II Movement
/0 Comments/in Industry news, Industry standards /by jimflahertyThe SEC recently “re-proposed” for public comment proposed new rules for asset backed securitization eligibility that has come to be known as Reg AB II. These proposed rules suggest changes to the current securitization regulations and cover multiple reforms on everything from asset-level disclosures on both public and private deals, to the role of the rating […]
C-MISMO survives coup attempt
/0 Comments/in Industry news, Industry standards /by jimflahertyThe leadership at C-MISMO (which I am a part of) has been trying to decide the next steps to promote standards adoption. Toward that end, we hosted a “MISMO Summit” in May to seek support. At the meeting, it was clear a group of people wanted to put the entire effort into a hibernation mode. […]
CREFC Cautious
/0 Comments/in Industry news, Industry standards /by jimflahertyI attended the CREFC Annual Conference last week in New York, which was also attended by about 1,000 people representing all the different segments of the CMBS industry (Issuers, Investors, Servicers, and Professionals). I would describe the mood as cautious due to recent spread widening, a perception that CMBS underwriting standards have already deteriorated and […]
MISMO Summit and ICSC RECon convention
/0 Comments/in Uncategorized /by jimflahertyI’m fresh back from a pair of industry get-togethers. C-MISMO is floundering; retail seems to be recovering. MISMO Summit Last week I was in Chicago at the MBA’s annual Commercial Servicing and Technology Conference, where we hosted a MISMO summit in an effort to promote the adoption of industry standards. The meeting was fairly well […]
MISMO, Risk Retention and OBL
/0 Comments/in Industry news /by jimflahertyLots going on this week, including a MISMO Data Summit, federal risk retention proposals and the end of Osama Bin Laden. MISMO Data Summit Plans are full steam ahead for a C-MISMO data “Summit” May 16 at the MBA Servicing and Technology Conference in Chicago. About 75 individuals from 30 companies got personal invitations. The […]
CREFC Releases Market Standards for CMBS 2.0
/0 Comments/in Industry news, Industry standards /by jimflahertyThe industry trade group that controls the reporting standards for CMBS reporting, the CRE Finance Council, released the consensus version of the new reporting requirements for CMBS 2.0. The trade group spent over a year with investors, issuers and servicers trying to reach consensus on best practices and disclosure levels. Standardized Annex A The biggest […]
Why are MISMO standards not being adopted?
/0 Comments/in Industry standards /by jimflahertyWe in the Commercial Mortgaging Industry Standards Maintenance Organization (C-MISMO) have been trying to come up with our strategic goals for 2011. As a starting point to determine these goals, we are using the results of a 2010 survey the MBA commissioned by the Vertical Industry Standards and Technology Adoption (VISTA) project. The survey basically […]