MBA taking back MISMO management
The Mortgage Bankers Association has announced it will take back management of MISMO from MERS Corp effective December 1, 2011.
Industry News
C-MISMO survives coup attempt
The leadership at C-MISMO (which I am a part of) has been trying to decide the next steps to promote standards adoption. Toward that end, we hosted a “MISMO Summit” in May to seek support. At the meeting, it was clear a group of people wanted to put the entire effort into a hibernation mode.
CREFC Cautious
I attended the CREFC Annual Conference last week in New York, which was also attended by about 1,000 people representing all the different segments of the CMBS industry (Issuers, Investors, Servicers, and Professionals).
I would describe the mood as cautious due to recent spread widening, a perception that CMBS underwriting standards have already deteriorated and a widespread belief that the “reforms” implemented for CMBS 2.0 don’t amount to much.
MISMO Summit and ICSC RECon convention
I’m fresh back from a pair of industry get-togethers. C-MISMO is floundering; retail seems to be recovering.
CREFC Releases Market Standards for CMBS 2.0
The industry trade group that controls the reporting standards for CMBS reporting, the CRE Finance Council, released the consensus version of the new reporting requirements for CMBS 2.0. The trade group spent over a year with investors, issuers and servicers trying to reach consensus on best practices and disclosure levels.