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Commentary on the Commercial Real Estate Debt Markets, Economics, Politics and More.

Topics

ABS

The SEC As Bad Santa: The Proposed Securitization Conflict RulesAuto ABS: Uncertainty and Excitement Ahead

Auto ABS

Auto ABS: Uncertainty and Excitement Ahead

Awards

2020 Golden Turkey Awards2020: An Outlook

Bankruptcy and Real Estate Litigation

Does the Golden Share need to follow the Golden Rule?Dechert OnPoint: Does Tribune Make Merit Management Obsolete?

Brexit

2019 Golden Turkey AwardsIt’s 2019 – Take Courage!

CECL

Funny TimesLife (and Opportunity) in the Time of Considerable Government Malfeasance

Climate Change

2022 Golden TurkeysInflection Point? How Much Change Are We Really Facing?

Closing Table

In Defense of Closings Human-ware Style:  Fixing Our Growing Lord of the Flies Problem

CMBS

Are We Partying for Perfection?The SEC As Bad Santa: The Proposed Securitization Conflict Rules

Commercial Mortgage Finance

CREFC Capital Markets Conference RecapSASB: The (Shotgun?) Marriage of Mortgage and Mezz

Commercial Real Estate

Legal Opinions, So XX Century!  A Modest ProposalIn Defense of Closings Human-ware Style:  Fixing Our Growing Lord of the Flies Problem

COVID-19

Funny Times2022 Golden Turkeys

CRE CLO

The Fed’s Conundrum: Godzilla vs. King KongHow to Play It If Goldilocks Is in the House

Credit Crisis

Opportunities in a Time of Broken BanksLife (and Opportunity) in the Time of Considerable Government Malfeasance

CREFC

Are We Partying for Perfection?In Defense of Closings Human-ware Style:  Fixing Our Growing Lord of the Flies Problem

CREFC Annual Conference

Are We Partying for Perfection?In Defense of Closings Human-ware Style:  Fixing Our Growing Lord of the Flies Problem

Crowdfunding

Does the ICO Open a New Chapter for RE Crowdfunding?Current Marketplace Trends in Real Estate Crowdfunding

Cryptocurrency

2022 Golden TurkeysContagion

Current Expected Credit Loss

Beany & CECL

Electronic Signatures

Original[s] Sin

Europe

Why Are We So Calm?Sometimes, It Really Is a Duck: What If Things Are About to Go Bad?

Financial Reform

Live in Hope…Die in Despair! Will Rates Come Down (Far Enough)?To Hell with Predictions; I’m Embracing My Inner Fabulist This Year

Foreclosure

Oh TRO You Don’t . . .A Mayday on May Day . . .

Golden Turkey Awards

The Golden Turkeys: 2.02022 Golden Turkeys

Hospitality Industry

Crunched Credit's First Podcast: Beds Without Heads

Hotels

Beds without Heads: Hotels in the Era of the Coronavirus

HVCRE

HVCRE ADC Update: Regulators Propose Eliminating Exemption for Land Development Loans2018 Golden Turkey Awards

Insurance

OnPoint: Flood Insurance, Commercial Real Estate and Climate ChangeSeeing is Believing: ALTA’s New Survey Standards

International Economies

Welcome to the New Normal – Funny Times RevisitedFunny Times

LIBOR

SOFR:  The Face That Launched a Thousand Ships Was Photoshopped!LIBOR and SOFR:  Welcome to a Two-Speed Market?

LIBOR Reform

SOFR:  The Face That Launched a Thousand Ships Was Photoshopped!LIBOR and SOFR:  Welcome to a Two-Speed Market?

Liquidity

The CRE CLO Repurposed: Part IIThe SEC As Bad Santa: The Proposed Securitization Conflict Rules

OnPoint

The SEC As Bad Santa: The Proposed Securitization Conflict RulesDechert OnPoint: Term SOFR is Here!

Opportunity Zones

Winter Is Here:  Buy a Snow ShovelFunny Times

Real Estate

Why Are We So Calm?Sometimes, It Really Is a Duck: What If Things Are About to Go Bad?

Real Estate Funds

Beany & CECLOpportunity Zones: Monetary Musical Chairs, Anyone?

Regulatory

Funny TimesSometimes, It Really Is a Duck: What If Things Are About to Go Bad?

Regulatory Capital

CECL: The Ugly Pig Running Out of LipstickBeany & CECL

Regulatory Complexity

It’s the Inflation, StupidVolcker Rule Amendment: Trending Towards Flexibility

Residential Mortgage Finance

Hey Guys, Let’s Sue a Financial Institution! Our Government at PlayWhy Regulation Fails

Risk Retention

Can We (Should We) Try to Fix the Conduit Before It’s Gone?CMBS On The Perp Walk: We Are Being Set Up!

SASB

Are We Partying for Perfection?

Securitization

Are We Partying for Perfection?Trading Is Not a Dirty Word (CRE CLO)

Seminars and Conferences

In Defense of Closings Human-ware Style:  Fixing Our Growing Lord of the Flies ProblemAuto ABS: Uncertainty and Excitement Ahead

Single Family Rental

CREFC Capital Markets Conference RecapSingle-Family Rental: The Landscape and Future of CRE’s Newest Asset Class

Structured Finance

Why Are We So Calm?Funny Times

Survey

Seeing is Believing: ALTA’s New Survey Standards

Tax Reform

Opportunity Zones: Monetary Musical Chairs, Anyone?The Deep State, Area 51, Elvis Sightings and the Illuminati: Complexity is the New Mythos-Maker

Title

Seeing is Believing: ALTA’s New Survey Standards

TRIA

The New Terrorism Risk Insurance: Still a Cost of Doing Business

TRIEA

The New Terrorism Risk Insurance: Still a Cost of Doing Business

TRIPRA

The New Terrorism Risk Insurance: Still a Cost of Doing Business

Uncategorized

James Carville Was Right:  It’s Good to be King - Life as the Puissant Bond MarketWe Are All Aflutter in the Henhouse

United Kingdom

Why Are We So Calm?LIBOR - The UK Beat Goes On
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My commentaries cover the capital markets with a focus on commercial real estate (CRE Capital markets, CRE CLO), securitization, regulatory inanity and market developments. 

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