Council Testifies Today Before House Financial Services Committee

Trade Group to Represent CRE Finance Market at Full Committee Hearing

WASHINGTON—July 29, 2010—CRE Finance Council will testify today at a House Financial Services Committee hearing on commercial real estate issues.   Brian Lancaster, a member of CRE Finance Council's Board of Governors, will speak on behalf of the Council to present the organization's views.

The House Financial Services Committee hearing, "Alternatives for Promoting Liquidity in the Commercial Real Estate Markets, Supporting Small Businesses and Increasing Job Growth," is scheduled to take place at 10:00 a.m. today in 2128 Rayburn House Office Building, Washington, DC. 

"Given the macroeconomic challenges facing the market, there is nothing more significant that can be done in the short term than to ensure that financial reforms strengthen our markets and promote confidence that will support, rather than impede, an economic recovery," Brian Lancaster will say today in prepared remarks on behalf of the CRE Finance Council.  

"In this regard, regulators must carefully follow the framework established in Dodd-Frank to tailor risk retention mandates by 'asset class,' and to consider reforms in a more complete context in light of the enormous number of changes to avoid significant harm to capital, liquidity and credit availability in our market at this challenging time." 

The Council will stress that policies must be both customized by market and coordinated by policymakers in order to provide the certainty and confidence that is necessary to promote private lending and investing and an overall recovery in both CRE and the broader economy.

Today's testimony by the CRE Finance Council is now available.  For additional information, and to view today's hearing on video, please visit the website of the House Financial Services Committee.
                                                                            
For more information about CRE Finance Council's ongoing efforts with policymakers on commercial real estate issues, please visit CRE Finance Council's website > Government Relations.

                                                                             #  #  #

Media Relations: Kenneth Reed, CRE Finance Council, 212-589-0961