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45 result(s) for financial reform
Covered Bonds As A Possible CRE Finance Product: What Is A Covered Bond?
(This is the second posting in a series on this topic) (first posting) Now that the United States Covered Bond Act of 2010 (H.R. 5823) is out of committee, covered bonds are attracting interest of the broader financial services community....
Covered Bonds Are Back For Consideration: Why H.R. 5823 Makes Sense
As an asset class, commercial real estate typically requires some level of financing. With all of the problems and challenges facing CMBS, there is a need for what I call a "new class" of commercial lender for commercial real estate....
Dodd-Frank Act: Ringside Reactions By Rating Agencies - No Mas!
We've followed the issue of rating agency reform over the past year in prior blog postings, where part of the focus was on the lack of liability on the part of the rating agencies (read: zero [-0-] liability). One immediate...
Over the last several weeks, I’ve shared and commented upon numerous summaries of the Dodd-Frank Wall Street Reform & Consumer Protection Act. Last week I discovered two pieces that artfully make sense of the 2,319-page Act, and even offer up...
Financial Reform Bill Update: Summary of Dodd-Frank Bill by the CREF Council
This should be the final summary from me on the Dodd-Frank Wall Street Reform and Consumer Protection Act. My last posting on this topic covered the summary furnished by the MBA, together with links to other resources, summaries, commentaries, etc....
Financial Crisis: How To Repair The Secondary Housing Finance Market?
No doubt, the 30,000 foot view on the way out of these troubled times for lenders is this: jobs, jobs, and jobs. For commercial real estate, the corollary is this: the secondary housing finance market must be repaired, must...
Financial Reform Bill Update: Want Details About It? Summary From The MBA
Following up on my collection of summaries and up-dates from Congress, industry organizations, Google sources (via news\blogs\twitter) and one DC law firm, here is the summary prepared by the MBA. I know that this blog entry is short. However, if...
If you've been following (here at TTFL) the Dodd-Frank Wall Street Reform and Consumer Protection Act, then you have these resources (and my 2 cent commentary): the summary furnished by the House Financial Services Committee, and to a copy of...
Following Dodd-Frank Financial Reform Bill? Use Google Reader
On the 4th of July. I suggested that you celebrate it by becoming more "involved" in understanding what is being called the greatest "reform" or restructure of our national economic platform since the Great Depression (remember: we're only in a...
Financial Reform Bill Update: House Staff Summary of the Conference Committee Bill is a MUST Read
Earlier this week, I posted a short summary of the Financial Services Reform Bill. Since then, the House Financial Services Committee posted the text of the overhaul agreed by the House-Senate Conference Committee late last week: Now called the Dodd-Frank...
Financial Reform Bill Update: Initial Summary of Important Provisions
Everyone should be following (just read the front page of your local paper) the joint House-Senate conference committee [prior posts] as they work on the financial regulatory reform legislation. On Friday, June 25th, the committee reached agreement on the legislation,...
Financial Reform Up-date: Risk Retention, FAS Standards & Covered Bonds
Here is an up-date from the CREF-C on the joint committee charged with reconciling the House and the Senate financial reform bills. The summary focuses on three topics: risk retention in CMBS deals FAS rules 166 and 167 covered bonds...
The CREF-C June '10 Convention: A Short Summary With Comments
(This is my last blog covering the CREF-C June Convention) Below is a very random collection of information (and comments) as “take aways” from my attendance at this convention earlier this week. You'll note that I really don't jump into...
The lack of liquidity, of course, is a huge drag on the recovery of the commercial real estate market. Buyers of foreclosed properties, or as white knights of deals in distress, need credit as part of the investment mix....
Opportunity For New Class of Lenders: Starting Now
In an earlier posting, I discussed the opportunity (and the need) for a new "class" of commercial mortgage lenders - positioned between - Good pricing for the best product & sponsorship: the traditional mortgage lenders (banks, life companies & the...
Proposed Legislation To Aid Community Banks In CRE Lending, Delinquent Loans & REO Properties
Overlooked by the recent focus on health care reform, and now by the financial reform bills (see my recent blog posts, is draft legislation prepared by Representative Minnick(D-Idaho). Known as "The Community Bank and Commercial Real Estate Stabilization Act of...
The tentative time line for the House-Senate reconciliation conference committee covering the financial regulatory reform legislation is the following: begin to meet during the week of June 7, 2010, with the goal of having a final Bill ready for the...
(Blogging from the MBA Servicing & Technology Conference . . . ) One phrase describes the majority of the content today at the sessions attended by me at the MBA Servicing & Technology Conference: "Change is now . . ....
Senate Passes Financial Reform Bill (Summaries To Follow?)
As you've probably already heard, on Friday (May 21, 2010), the Senate passed the "Restoring American Financial Stability Act of 2010" (Senate Bill S. 3217) by a 59-38 vote, but did so through a parliamentary twist where it deems the...
As I've previously noted, rating agency reform is on the table and gaining momentum in the Senate. The original Senate reform bill (the Restoring American Financial Stability Act (S. 3217)) included an increase in the oversight of the recognized credit...
Borrowers Have Tough Questions For The New CMBS 2.0
In an earlier posting on CRE finance reform and market trends, I stepped back and asked the all-important questions: What does all this mean? What is the big-picture? Where is this going? I offered up four perspectives, with these as...
Rating Agencies continue to be under a microscope. Here are two recent events, and two points that should be of interest: Moody’s Receives a Wells Letter Information Sharing Under New SEC Rule 17g-5 Addresses Conflicts of Interest Needed: Post-Employment Limitations...
Mortgage Bankers Ass'n & Commercial Real Estate Finance Council (CMSA) To Merge?
As I sat in the January Conference of the CMSA (now known as the Commercial Real Estate Finance Council), I noticed some startling changes (link to my blog postings): the January meeting once was called the "Investor's Conference," with a...
Extension & Reform of National Flood Insurance Program: House Bill 5114 & Bill 2555 Leave Committee
With all of the focus on the Financial Reform Bill [posting] (Restoring American Financial Stability Act of 2009), it is easy to miss other important legislation coming out of Congressional Committees that relate to commercial real estate. As we've experienced...
In two prior postings [first] [second] addressing the CRE finance crisis and market trends, I have explored three (3) topics that point us to answers on these all-important (even personal) questions: What does all this mean? What is the big-picture?...
In an earlier posting on CRE finance reform and market trends, I stepped back and asked the all-important questions: What does all this mean? What is the big-picture? Where is this going? I offered up four perspectives, with these as...
On Wednesday, April 14, the White House and the HUD Secretary Shaun Donovan both took steps in support of reforms for the housing market (including Fannie Mae and Freddie Mac). Here is a quick summary: White House Asks Public Input...
5 Books & 4 Questions Give Perspective on the Credit Crisis
On Friday, April 9Th, I attended Commerce Street Capital's Eighth Annual Bank Conference & Golf Tournament. The Conference focused on challenges facing regional and community banks, with a theme of “Keeping a Sharp Eye on the Road Ahead.” Commerce Street...
James Ruiz recently wrote a piece, published in the Texas Lawyer, summarizing the February 10, 2010 report (“Commercial Real Estate Loses and the Risk to Financial Stability”) issued by the Congressional Oversight Panel. (continue reading link below). It is a...
Once again [link to earlier letter], in a letter dated March 25, 2010, the 21 key industry groups band together in an attempt to focus the Senate on the importance of the securitization market, and to caution the Senate on...
On Monday (March 22, 2010), the Senate Banking Committee voted along party lines and passed the "Restoring American Financial Stability Act of 2010" (with a 13 to 10 vote). So, Senator Dodd's financial reform bill makes its way out of...
On Monday, March 15, the Senate Banking Committee released it's draft of the "Restoring American Financial Stability Act of 2010" [click name to download it]. It is long: 1336 pages. And no surprise at this: it is complicated. Provisions include...
CMSA & Key Industry Groups Push Congress To Avoid "Looming Commercial Real Estate Crisis"
As I noted previously [link], the mid-term elections significantly limit the time period for Congress to pass a meaningful financial reform bill. The “window” for this closes in August – five months from now – when the fall election campaigns...
CMBS 2.0 & Financial Reform: Industry Comments on FDIC 'Safe Harbor' Provisions For Securitization
Yesterday, the Commercial Mortgage Securities Association (CMSA) submitted a comment letter [download] to the FDIC concerning the FDIC's 'Safe Harbor' rule [down load the FDIC's Advanced Notice of Proposed Rulemaking] covering the securitization of commercial real estate loans. Of course,...
On Thursday, Feb. 11, the Congressional Oversight Panel issued its report (dated Feb. 10) addressing "commercial real estate losses and the risk of financial stability." The report highlights the possibility of commercial mortgage failures over the next four years, with...
MBA-CREF Convention (Day 2): Three Perspectives; Wish List Points to a Slow 2010
One take-away for me from the second day of the convention is this: while the three different perspectives (below) point to 2010 being a better or different year than 2009, it will be far from “normal” (when compared to...
Unlike the CMSA January Conference (where the primary focus is on addressing substantive issues) [link], the MBA-CREF convention has a primary focus on relationships: mortgage bankers meet with lenders; and lenders meet with mortgage bankers. However, the MBA does offer...
(When we attend industry conferences, we bring you along by blogging on topics of interest to us, with our comments as a bonus. This is the second in a series of posting relating to, and from, the 2010 CMSA January...
Capital Market Scorecard: Day 1 Summary from the CMSA January Conference
(When we attend industry conferences, we bring you along by blogging on topics of interest to us, with our comments of course. This is the second in a series of posting relating to, and from, the 2010 CMSA January Conference....
(When we attend industry conferences and meetings, we bring you along by blogging - offering content that we find interesting, and offering our comments [with an occasional restaurant review]. This is the first in a series covering the 2010 CMSA...
Just as they did for 2009 [link], our friends at Armstrong & Associates [website] have prepared a 2010 calendar events and meetings for industry associations, legal education events, governmental meetings, etc. -- all focused on bankruptcy and insolvency. It is...
CMBS Scorecard: Financial Reform Bill - Only A Band Aid For Now; Covered Bonds Later?
(Part of my series on the capital markets. Use the term "scorecard" in the search function on the lower right side of this page to find other postings in this series.) On December 11, the US House of Representatives passed...
Capital Market Scorecard: Hope on the Horizon - Congressional Hearings on Covered Bonds
More on my series commenting on the CMBS loan market and the broader capital markets for commercial real estate . . . . Previously, we've brought to your attention a type of commercial real estate debt structure that HAS worked...
Uncertain Waters: Scorecard on the CMBS Market
By now you should be well aware of this "bad" fact stemming from failure or lock-down of the CMBS loan market: Between now and the end of 2012, more than $600 billion CRE loans will mature in EXCESS of the...
At the end of last week, the FDIC's Board of Directors adopted an interim final ruling amending 12 CFR Section 360.6 and provided a transitional "safe harbor," effective immediately for all participations and securitizations in compliance with that rule as...
