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Restarting the Commercial Mortgage-Backed Securities Market 

Feb 19, 2010By

[Commercial] property prices have fallen massively – especially the 2006-2008 vintages, which have registered declines of 50% from peak to trough, compared to 30% in the previous CRE crisis in 1990/1991. Many deals which are gradually coming to refinancing have no equity left, while a majority of securitized CMBS deals at least have current cash flows. As a result, [last month’s American Securitization Forum 2010] panelists say that a number of cases will be resolved through loan modification/restructuring.

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