July 31: Checking in
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TALF, LoopNet vs. CoStar, CoStar and PPR, MISMO and a vacation in Yosemite … a ton has happened in the past few weeks.
Industry News
Geithner Proposal a Mixed Bag
Treasury Secretary Timothy Geithner’s proposal to “fix” securitization was released last week, and it is a mixed bag for CMBS.
On the positive side, he stated the SEC should promote increased transparency for both the deals and the rating agency methodology used to rate the deals. The best line was “Investors and credit rating agencies should have access to the information necessary to assess the credit quality of the assets underlying a securitization transaction at inception and over the life of the transaction.”
Agreed!
17 Firms call in for XML kick off – CMSA next week
We had the kick-off call for the rent roll and operating statement standards making committee yesterday, and 17 firms called in representing CMBS issuers, banks, insurance companies, rating agencies, servicers and data providers. I was encouraged by the attendance number and the productive conversation. We made good progress through rent rolls and got started on operating statements.
Commercial MISMO Kicks Off New Workgroup for Rent Rolls and Operating Statements
I’ve been writing about this for a while; here is the official announcement, plus a way for you to join the MISMO Commercial Operating Statements and Rent Rolls listserv. Do it now!
Register for the annual CMSA convention
Pre-registration closes Monday, June 1. Rates increase on Tuesday, June 2. Keep reading for details.
(An inaccurate email went out earlier today from CMSA Events; the following rates are correct.)