An expert in the commercial real estate debt market is calling on industry participants to “reset the business to where it used to be” to stop the commercial MBS market from shrinking any further. In a recent blog, Rick Jones, partner and co-chair of Dechert’s finance and real estate practice, noted CRE securitization, or at least the conduit part of the business, continues to dwindle. It has fallen from $800 billion in outstanding principal balance in 2007 to approximately $400 billion currently, with a run rate of about $50 billion annually. The downward trend is...
FUN FACT: Between 2000 and 2007, roughly $2.726 trillion of subprime residential loans were originated nationwide. Last year, just $2.0 billion were funded.
Over the past 18 months or so, the DOJ has expanded FCA use to reverse mortgages and loan servicing, according to attorneys Phil Schulman and Kristie Kully…