(Richmond, VA September 16, 2009) With the pulse of the market for commercial real estate equity and debt somewhere between faint and flat line, loan servicers have found religion, handling most maturity defaults with short-term extensions in order to avoid foreclosure. This approach Delay and Pray reflects the current climate of the broader CMBS market, according to the latest podcast produced by John B. Levy & Company. Available online at http://www.jblevyco.com/podcasts/23741/extend-and-pretend-or-delay-and-pray.html, this new podcast provides clients and analysts alike with a clear understanding of what to expect in todays commercial mortgage environment.
I remember filming that podcast!