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ARTICLE · 16 FEBRUARY 2009

Recently Announced Financial Stability Plan To Include Support For Purchase Of CMBS

In Goodwin Procter’s November 2008 Real Estate Capital Markets Advisor, we presented thoughts on the then current economic environment relating to the commercial real estate industry, focusing principally on mortgage debt.

United StatesStrategy

Article by Gilbert G. Menna , Samuel L. Richardson , Andrew C. Sucoff , Jacob A. Warden and Adam N. Weisenberg

In Goodwin Procter's November 2008 Real Estate Capital Markets Advisor, we presented thoughts on the then current economic environment relating to the commercial real estate industry, focusing principally on mortgage debt. In particular, we summarized the state of the CMBS market, outlining (i) the volume of scheduled maturities over the near term; (ii) the relatively modest delinquency rate on CMBS loans at that time; and (iii) the U.S. Treasury's then stated intention to use the Emergency Economic Stabilization Act of 2008 to provide capital infusions into the financial system and not to purchase troubled debt. We also provided input on recent changes in the REMIC provisions relating to RMBS pools, and how similar changes could benefit the CMBS market.

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