Tag Archives: CRE Finance Council

CREFC Annual Conference

Last week, the CREFC Annual Conference was back in its traditional New York venue, which benefitted not only the Manhattan hospitality market’s RevPAR but also provided for an exciting and lively location in Times Square.  Dechert’s bash on Monday evening was extremely well attended and the guests were treated to passed hors d’oeuvres and the … Continue Reading

Single-Family Rental: The Landscape and Future of CRE’s Newest Asset Class

Earlier this month, our very own Kenneth D. Hackman, a regular contributor to Crunched Credit, moderated a panel entitled Single-Family Rental: The Landscape and Future of CRE’s Newest Asset Class, hosted by Dechert LLP, for CREFC’s After-Work Seminar Series. The esteemed panel consisted of Kevin S. Dwyer, Senior Vice President, RMBS, Morningstar Credit Ratings, LLC; … Continue Reading

2017 CREFC Annual Conference: Into the Heart of the Swamp

CREFC held its Annual Conference last week in Washington D.C. Given the current politically charged climate, 2017 felt like a very appropriate time to move the Annual Conference from its traditional home in New York to Washington. Although attendance was down slightly from last year, over 1000 people attended the conference. Dechert hosted a reception … Continue Reading

Reading the Financial Tea Leaves: CREFC Market Outlook Survey 2017

CREFC has surveyed some of its attendees—all major participants in the commercial real estate finance industry—at the 2017 CRE Finance Council January Conference in Miami.  CREFC’s 2017 market outlook survey confirmed what we observed at the conference this year, that for the most part survey respondents were cautiously optimistic in the face of the Trump Administration, … Continue Reading

What’s To Be Done about a Rule That Doesn’t Work?

Adding to the mountain of uncertainty for 2017 is how to interpret and implement (and…what is the fate of) the HVCRE (High Volatility Commercial Real Estate) regulations that came into effect January 1, 2015 (yup…that’s right…2 years and still no clarity) and which were implemented as part of the Basel III regulatory framework.  So what … Continue Reading

A Trip Through the Labyrinth – The Regulatory Man in Full

And now to return to our commentary a few weeks back about the stultifying impact of ill-thought through rules and regulations (at best) (Brexit has intervened).  This is our Regulatory State which broadly attempted to pick winners and losers and modify market behavior, to get an engineered outcome by using the blunderbuss of proscriptive rules … Continue Reading

CREFC Annual Conference 2016: Headwinds or Head First Into the Wall?

The slow start to 2016 did not dampen the enthusiasm at CREFC’s Annual Conference, held last week in New York City.  The conference saw record attendance, with standing-room-only crowds at virtually every panel.  As with the Industry Leaders Conference in January, the hot topics on people’s minds were risk retention (and the rest of the … Continue Reading

Crowdfunding: The Next Commercial Real Estate Frontier?

In a world where we buy groceries, book travel, and even date online, it should come as no surprise that online investment is becoming increasingly prevalent. The rapid shift towards an internet-centric world has made crowdfunding the next “big thing” when it comes to raising capital and finding investment opportunities. What is Crowdfunding? In the … Continue Reading

2014 OUTLOOK

I have been mulling our 2014 Outlook for some time and decided to wait until after the New Year and CREFC to write.  Just in case we got the whole Mayan calendar end of the world story wrong by a year (hey, it was 5000 years old) which would make the whole prediction thing a … Continue Reading

CREFC Returns to the Big Apple

Next week, hundreds of industry participants will make their way to New York for CREFC’s Annual Conference. The conference promises to provide a forum to explore present and future market trends in commercial real estate, as well as an opportunity to gain valuable insight from many leaders in the market as to where we are … Continue Reading

Optimism Abounds at the CREFC After-Work Seminar: “Lender Perspective: Current State of the Debt Markets & Trends for 2013”

As Philadelphians, it’s easy to think that 2012 has been a disappointment.  Our beloved Eagles are 4-9, the Phillies had the most disappointing season in recent history and the Sixers traded last year’s best player for someone who has not yet set foot on the court this season (to avoid any rage from hockey fans, … Continue Reading

CrunchedCredit.com Live Blog From CREFC 2012 Annual Conference – Day 1:

Over 800 industry participants have descended on Washington D.C. for the CREFC annual conference. With CREFC’s expanded focus on more than just securitization, we are now hearing from a more diverse set of voices at the conference. The conference kicked off this morning with the PSA Task Force’s discussion of the pooling and servicing agreement simplification … Continue Reading

TriBeCa 2.0: CREFC Prepares to Release Model Loan Seller Reps and Warrants

Last Wednesday, Laura Swihart and I attended CREFC’s after-work seminar on the new model set of representations and warranties, which the group is set to release in coming weeks. The model set is the product of a patchwork committee of 50-odd individuals representing the full gamut of industry types – securitization issuers, bond investors, rating … Continue Reading

Can’t We Just Get Along

CREFC and MBA. MBA and CREFC. Tied at the hip. Danny Kaye and Bing Crosby? (For those of an age or inclination to have watched White Christmas recently). After a period of open and somewhat notorious and perhaps a little embarrassing competition, these two trade organizations have to settle down and get along for the … Continue Reading

Securitizations: An Old Rule, a Transitional Rule and a New Rule (and we’re not talking Good, Better, Best)

On October 20th at the Charlotte City Club, Dechert partner David Harris spoke on an ASF Sunset Seminar panel titled “FDIC’s Final Securitization Safe Harbor – Understanding the New Rules.”  I won’t spend too much time on the background of the FDIC’s Old Safe Harbor Rule but will tell you that the Transitional Safe Harbor … Continue Reading

Covered Bonds Anyone?

Covered bond legislation is once again a hot topic on Capitol Hill. Representative Scott Garrett (R-NJ) co-sponsored the latest iteration of his proposed legislation (United States Covered Bond Act of 2010 or H.R. 5823 (pdf)) along with Representatives Kanjorski (D-NJ) and Bachus (R-AL). The House Financial Services Committee recently voted in favor of reporting H.R. 5823 … Continue Reading

And Now the Real Game Begins

It’s August 6 as I write this, and the finance industry is taking a deep breath after hustling for weeks to get their comments delivered to the SEC on the SEC’s massive restructuring (pdf) of Reg AB and offering reform.  We here at Dechert had been very busy writing the CREFC comments (pdf) and I’m delighted to … Continue Reading

Industry Considers CMBS 2.0 Rep Package

Issuers, investors, rating agencies and other industry participants continue to wrestle with the fundamental changes that will come to define CMBS 2.0. Among the (many) issues raised in the "Best Practices" guidelines issued by CREFC during June’s get-together was a proposal for market-wide, programmatic change to the package of representations and warranties given by securitization … Continue Reading
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