(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 today’s commercial mortgage environment.
I remember filming that podcast!