“The CMBS industry may need to confront bigger obstacles in order to rebound fully. Although most interviewees contend that a properly functioning mortgage securities engine is necessary for liquidity in the real estate capital markets, they also express serious concerns about the failures to address evident problems in CMBS underwriting, regulation, ratings and servicing since the market collapse.”
Maybe it’s just a matter of perception but the industry executives who provided that feedback to the authors of Emerging Trends could take heart that Basel III and Dodd-Frank are both taking a swing at shoring up those problems. But that oversight is something those in the sector are less than happy about, firm in their stated belief that the sector is sufficiently self-policing. But is self-policing enough, as CMBS—projected to be a $60-billion market again by 2014—“sputters to life” (In the words of Emerging Trends), can we be headed for a repeat of the above?
Read more...Has CMBS Mended Its Ways? - Daily News Article - GlobeSt.com
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