Wayne Potters joins Lev as managing director, leaving SocGen
Potters, who has headed CMBS businesses at SocGen and Merrill Lynch, will focus on digital and automated commercial real estate loan securitizations.
Commercial lending
As SOFR gains favor, other benchmark rates face uncertain future
The Secured Overnight Financing Rate has benefited — amid the phaseout of Libor — from positive comments by regulators. Is a multirate environment, which some banks would prefer, still possible?
Fitch announces downgrades on three commercial-mortgage pass-through deals
Key retail vacancies, a drop in office occupancies, plus a combination of lower oil prices, a housing market oversupply — worsened by the coronavirus pandemic — caused loan-level performance issues.
OCC warns of high corporate debt levels, commercial real estate risks
In a semiannual report on trouble spots in the banking sector, the Office of the Comptroller of the Currency raised concerns that banks are taking on too much risk in pursuit of earnings growth.
Regulators offer more clarity on Libor transition as deadline nears
Federal and state banking agencies released a joint statement calling on financial institutions to conduct the "due diligence necessary" to select a new reference rate benchmark that is suitable for their risk profile.
Banks losing ground to nonbanks in business lending
Commercial borrowers are leaning more often on alternative lenders that provide better speed and flexibility. At the same time, some banks are turning their backs on what has long been a bread-and-butter business.
ACREC, a new CRE CLO issuer, plans to issue about $875 million in CMBS
The transaction is also the first securitization for ACREC. The entity is also taking on multiple roles, acting as sponsor, issuer and collateral manager.
AREIT preps $989 million in CLOs with flexibility on pool management
In a move becoming more commonplace for CRE CLOs, the collateral manager can direct modifications that are not subject to servicing standards in deal documents.
Term SOFR may win the war, but expect friction between borrowers and lenders over spreads
The Loan Syndications and Trading Association alerts market participants to the challenges of term-SOFR transition before year-end.
By
John Hintze
Strong CLO market likely to continue as first cracks emerge
High CLO volume stems partly from transactions whose refis or resets anticipated last year were deferred when spreads widened considerably amid the pandemic.
By
John Hintze
American Dream mall draws on reserves to make bond payment
The 3.3 million-square-foot behemoth, which features an indoor ski slope and amusement park made a $9.3 million Aug. 2 payment on about $290 million.
LendingClub, fueled by surge in loans, posts surprise profit
The digital lender, which bought Radius Bancorp in February, still expects to record a full-year loss partly because of merger-related costs. But its stock price soared Thursday after it reported second-quarter net income of $9.37 million.
Regions Bank sees potential threat in rising COVID cases in Southeast
States in its footprint have some of the lowest vaccination rates in the country. Another round of shutdowns could further damage industries like hospitality that have already been hit hard by the pandemic, executives said.
Near-record SBA lending gives banks much-needed earnings jolt
Small Business Administration lenders have reported strong quarterly results, but those gains could evaporate later this year. Here’s why.
Commercial loan performance is all over the map in pandemic era
Comerica, which focuses on the energy sector, reported strong payment trends last quarter, while M&T, which concentrates more on real estate, showed deterioration. The divergence reflects varying exposures to sectors hit hard by the COVID-19 recession.
Goldman plans new Dallas campus, extending bet on hub in Texas
Goldman Sachs Group hunts for a new office campus in Dallas that could become the Wall Street bank’s largest U.S. presence outside of Manhattan headquarters.
Commercial and multifamily lending outlook turns positive in 2Q
Growing CRE mortgage volumes raised the bar for the coming year despite lingering concerns, according to the CRE Finance Council.
Fifth Third buying health care lender Provide
The fintech specializes in lending to dentists, veterinarians and other solo providers looking to grow or establish their own practice.
Regional banks, credit unions begin lending to pot firms
Cannabis, though still illegal at the federal level, continues to inch into the financial mainstream. Small credit unions and lenders as large as Valley National and East West have moved beyond just taking deposits from marijuana companies.
Banks’ biggest CRE headache: A dearth of originations
Fears of widespread credit losses have largely subsided, but demand for new commercial real estate loans remains lackluster because many companies are sitting on so much cash they don’t need to borrow. Meanwhile, competition from private equity groups and other nonbank lenders is escalating.
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