Wachovia announced it will cease mortgage lending in most state branches. Like many banks, Wachovia has been under tremendous pressure as a result of the mortgage melt down crisis. Wachovia was not known for its origination production but illustrates the current difficulties facing the banking
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08/10/2008
Commercial loans including Multifamily programs have all been hurt by mismanaged bond investments. In that vein, we welcomed this news this afternoon. Huge settlement announced today by NY State AG. UBS to buy back over $19 BILLION dollars worth of bonds sold to many investors including pension
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08/08/2008
Surveys on new multifamily properties sales the past 2 months are showing some strain. This correlates to a drop in multifamily loans as well although Fannie Mae loans have increased substantially. Each market is local of course but the trend towards lower CAP rates is something we projected beg
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08/01/2008
There is a real concern over "cherry picking" the best deals with the remaining national commercial real estate lenders. Business is booming for these guys and no plans in increasing personnel to cover the new loan submissions. This is affecting CRE agents across the nation according to the lat
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07/30/2008
Wow, the news just keeps on coming. We pretty much saw the warning signs for some big news to hit with the second quarter coming to a close. However, 2 of the biggest names in the business closing shop doesn't bode well for the industry. Definitely shrinking the the funding sources who are now
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07/08/2008
Bad news in my world again today. IndyMac created a commercial division to become more diversified. However, it was too little, too late for them. It wasn't entirely unexpected but the way it was handle certainly was. The production team was let go at the end of the day on Monday and the divis
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07/01/2008
Had a comment deleted in another. Realized that posting into a group that has many comments should be relevant. Reading the forum helps. DUH........ My own blog hasn't relevant to my forum so from here on I decree that I will do better. I have been getting calls from many mortgage brokers and age
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06/26/2008
Learned a lesson last week about backing up your hard drive with Windows XP Pro and the difference between Microsoft Office 2003 and Vista. I backed mine up externally on a weekly basis for years. Had my laptop for 5 years, heard a clicking sound and poof it was gone. Blue screen of death. No
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06/26/2008
Can we get an amen? Gotta rant again on the price of oil and gas this week since it has so much impact on us as consumers and on our industry. CNN briefly covered a possible oil trading scam but super delegates had most of the TV time. We could sure use a good steroid investigation into this oil
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05/30/2008
Many people in and out of the industry don't quite understand how gas prices affect real estate rates. The short and simple is this. Commericial Market Bond Securities (CMBS) rates as well as residential securities are sold as bonds on the secondary market to investors seeking to invest in comm
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05/22/2008
