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March 28, 2024
CRE Finance Council has released a report on CMBS loan performance for February.*
Key takeaways:
DELINQUENCY RATE SLIGHTLY UP IN FEBRUARY
*Source: Trepp. CMBS data in this report reflect a total outstanding balance of $606.2B: 58.9% ($356.8B) conduit CMBS, 41.1% ($249.5B) single-asset/single-borrower (SASB) CMBS.
News Archive
March 26, 2024
While the government funding deadline has dominated headlines, a flurry of regulator and committee activity focused on banking and financial services.
Bank Mergers: The Federal Deposit Insurance Corp. on Thursday moved to scrutinize bank mergers more closely, proposing changes that would raise the bar for approving such transactions, especially where the combined banks have more than $100 billion in assets.
SEC and Artificial Intelligence: SEC Chair Gary Gensler on Tuesday said a growing dependence on AI could pose a danger to the U.S. financial system, adding that regulators need to rethink their siloed approach to rulemaking to minimize the risk:
“I would be quite surprised if in the next 10 or 20 years a financial crisis happens and there wasn't somewhere in the mix some overreliance on one single data set or single base model somewhere.”
On the Hill, the House Financial Services Committee held a hearing on Thursday to discuss the risks of ceding authority over American financial regulation to global governance bodies.
Stablecoin Progress: Chair McHenry said Tuesday that he and Ranking Member Waters (D-CA) would be able to secure passage of stablecoin legislation if they had a legislative vehicle.
March 26, 2024 With hours to spare on Friday, the House passed the second set of appropriation bills to fund the government through September 30. After some partisan wrangling over amendment votes, the Senate passed the bill shortly before 2 AM on Saturday. Biden signed the bill on the same day.
Why it matters: Funding the government settles the six-month saga of looming government shutdowns. While the move has caused additional GOP infighting, Republicans saw a government shutdown as being a bigger political liability.
What they’re saying: Johnson has not been publicly concerned with the threats to his leadership, and several Democrats came to his defense on Friday saying they would vote to protect his speakership.
Yes, but: the Republicans’ majority math is getting more challenging.
Contact David McCarthy (dmccarthy@crefc.org) with questions.
The affairs of CRE Finance Council are managed by a Board of Governors, selected from the general membership, which meets at least two times a year. During the periods the Board is not convened, the Executive Committee has full authority to transact all CRE Finance Council business. The Executive Committee is made up of the chair, chair-elect, vice chair, secretary, treasurer, membership chair, administrative executive, as well as four additional Executive Committee members. View the CREFC By-Laws.
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The CRE Finance Council holds two premier conferences each year in the United States: the January Conference in Miami and the June Annual Conference in New York. Conference programming addresses the most relevant topics facing the industry, presented by recognized finance leaders.
Complementing these major conferences are After-Work Seminars, Young Professional, Women's Network, and Educational events held regularly throughout the calendar year, each of which is tailored to fit the constituencies served by CREFC.
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The mission of the Young Professionals (YP) Network is to provide a platform for junior CRE finance professionals to foster meaningful business relationships and gain relevant industry knowledge through networking events, seminars and panels.
YP programming events are developed by YPs – so the content is current and applicable in their daily work. Each YP educational event includes a networking aspect to build and foster industry relationships with both peers and seasoned industry leaders. YPs are surveyed by region for ideas for future programming to ensure educational and industry needs are met.
Additionally, there are networking only events held in a more relaxed atmosphere where YPs can mingle among their peers.
There is a discounted rate to conferences and seminars for those CREFC Members 30 years of age or younger. To sign up for the 30 and Under Program Rate join the network and ensure that you check off the box “I would like to sign up to receive the “30 and Under Program Rate”. You will be required to submit photo ID to be approved for the discounted program rate. Sign up TodayCREFC members Only
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CREFC has teamed up with NCREIF to produce and promote the NCREIF/CREFC Open-end Debt Fund Aggregate (the “Debt Aggregate”). In short, this product will deliver a fund-level compilation of open-end debt funds providing financing to commercial and multifamily real estate borrowers/owners. The Debt Aggregate will be issued in a draft “consultation” format for at least one year, which allows time for industry feedback before it is rolled out as an official product. For questions or to get involved, contact Lisa Pendergast
Overview of Debt Fund Index (presentation slides from CREFC's September 28, 2023 Capital Markets Conference)
Watch the Video (video replay from CREFC's September 28, 2023 Capital Markets Conference)
Our members shape the commercial real estate finance industry with our advocacy initiatives. Through a collaborative process with our members, CREFC develops official policy positions that are presented as needed to legislators and regulators. These policies are developed through participation in our forums. CREFC also maintains fact sheets in online and PDF format on all major CRE issues and informs members weekly of the latest regulatory developments. To make a difference in the direction of our industry, sign up for a forum and participate in our advocacy efforts below. Contact David McCarthy with any CREFC policy or advocacy questions.
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CREFC’s Policy Tracker includes a variety of visual aids and updates to help members understand, track, and analyze key policy issues affecting the CRE and multifamily finance industry.
CREFC’s Sustainability Initiative seeks to align the objectives of our members and the CRE finance industry with the opportunities and challenges of environmental, social and corporate sustainability.
For our weekly government relations and industry policy briefings, please visit our Document Resource Center. The Document Resource Center contains CREFC position papers, analyses, testimony, and other policy tools.
Read CREFC's thought leadership paper: Multifamily Housing Affordability in the Age of COVID and Beyond
Don't miss a beat! Remain informed on all things CRE and beyond by checking out CREFC's Archive Page. The archive houses legislative and political resources, developed and curated by CREFC's Government Relations team, needed to thrive in today's market.
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