Shaping Our Industry

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 Justin Ailes with any CREFC policy or advocacy questions.

Latest News

News

CREFC Names Lisa Pendergast 2021 Woman of the Year

January 11, 2022

Woman of the Year – Lisa Pendergast

Lisa Pendergast is the Executive Director of CREFC, previously serving as the 2010/2011 President, and is a former member of CREFC’s Board of Governors for over nine years. As Executive Director, Ms. Pendergast provides analysis and commentary on commercial real estate credit fundamentals and relative value within the private-label and agency CMBS and structured-product markets.

With more than 25 years of industry experience in the structured-finance markets, Lisa has been a top-ranked research analyst in the highly competitive Institutional Investor All-American Fixed-Income Research Team survey in the CMBS category. She has published several articles and reports on various aspects of the CMBS markets that appear in industry handbooks and academic journals, and is often quoted in the financial press on commercial real estate debt-related issues.

Prior to CREFC, Ms. Pendergast was with Jefferies LLC, as a Managing Director and Head of CMBS Strategy and Risk in the Fixed Income Division’s MBS/ABS/CMBS Group. Before joining Jefferies, Ms. Pendergast was a Managing Director in the Fixed-Income Strategies Group at the Royal Bank of Scotland, where she worked for eight years. Early on in her career, Ms. Pendergast focused on the residential MBS marketplace as a research analyst at Prudential Securities, authoring reports on various securitization structures and mortgage-related bond analyses, such as option-adjusted spreads.


Founders Award – Jan Sternin

Jan Sternin currently serves on the Commercial Real Estate Finance Council Board of Governors. She also serves as Senior Vice President and Managing Director at Berkadia where she is responsible for business development across the servicing platform as well as industry relations. Prior to joining Berkadia, she was responsible for business development, marketing and communications for Situs. Additionally, Ms. Sternin also served as Senior Vice President of Commercial and Multifamily for the Mortgage Bankers Association and CEO of MISMO, the MBA’s technology initiative for creating uniform data standards for the real estate finance community.

Previously, Ms. Sternin held the position of Senior Vice President at Midland Loan Services, responsible for marketing and sales activities and has worked with numerous governmental agencies including the Resolution Trust Corporation, Office of Thrift Supervision, Federal Savings and Loan Insurance Corporation, and the Federal Home Loan Bank System


Founders Award – Eric Hillenbrand

Eric Hillenbrand, whose career in CMBS investment spanned key roles at Frist Chicago, BankOne & JPMorgan Chase, was very integral in the early days of CREFC, which in its infancy stage was called the Commercial Real Estate Secondary Market and Securitization Association (the “CSSA”). Eric was a Founding Governor and a member of the Strategic Planning Committee from 2000 to 2001, a member of the Executive Committee from 2002 to 2003, a Board member from 2002 to 2005, and served on a number of other CREFC committees and initiatives, typical of his commitment to the industry and this Association.

Most notably, very early in CREFC’s history, Eric was a highly vocal and passionate advocate for more CMBS information to be distributed to investors, and more standardization of that information. He was an early proponent of the “CSSA 100”, envisioned to be one hundred fields of common, and commonly defined, information to be distributed via CMBS remittance reports. While he often said that “100 fields would not be enough”, he felt that at least “they would be a start”.

The industry owes a debt of gratitude to his vision, which was a precursor to the eventual Investor Reporting Package, a still-evolving and widely regarded information format that is a hallmark of the CMBS industry. The IRP has undoubtedly helped attract more investors to the sector, confident that there consistently will be a great deal of standardized information provided on CMBS, which better enables comparisons of bonds and informed investment decisions.

Sadly, on February 23, 2021, we lost Eric to COVID. Gratefully, his enormous influence on our sector remains and continues. In recognition of his business leadership, his contributions to best practices in transparency and professionalism, and his impact building the CMBS Industry, CREFC hereby posthumously awards Eric Hillenbrand the CREFC Founder’s Award. Eric’s son, Jeremy Hillenbrand, was going to attend the conference to accept this award on this Father’s behalf, but current conditions precluded his travel. On behalf of Eric’s entire, large, loving family, we accept this well-deserved award for them and for Eric Hillenbrand.


About CREFC
The CRE Finance Council (CREFC) is the trade association for the commercial real estate finance industry with member firms including balance sheet and securitized lenders, loan and bond investors, private equity firms, servicers and rating agencies, among others. CREFC promotes liquidity, transparency, and efficiency in the commercial real estate finance markets, and acts as a legislative and regulatory advocate for the industry, playing a vital role in setting market standards and best practices, and providing education for market participants.

Contact

Morgan McGinnis
mmcginnis@prosek.com
323-500-0939


The Commercial Real Estate Finance Council (CREFC) today at its annual January Conference in Miami, announced Lisa Pendergast as the winner of the second annual Woman of the Year Award. Additionally, Jan Sternin, Eric Hillenbrand and Brian Furlong were named as recipients of the 2021 Founders Award.


The information provided herein is general in nature and for educational purposes only. CRE Finance Council makes no representations as to the accuracy, completeness, timeliness, validity, usefulness, or suitability of the information provided. The information should not be relied upon or interpreted as legal, financial, tax, accounting, investment, commercial or other advice, and CRE Finance Council disclaims all liability for any such reliance. © 2021 CRE Finance Council. All rights reserved.
CREFC Names Lisa Pendergast 2021 Woman of the Year
January 11, 2022
Jan Sternin, Eric Hillenbrand, and Brian Furlong receive annual Founders Award.

News

January Conference Health & Safety Communications

CREFC looks forward to seeing everyone at our annual January conference in Miami.

After nearly two years of virtual and distanced meetings, we see significant value in convening with our peers and colleagues in-person.

With this in mind, CREFC is dedicated to ensuring your health and safety – and peace of mind – as much as possible while you join us next week. We kindly remind you to please stay home if you are feeling unwell or experiencing symptoms of COVID-19. The conference will be available to stream to ensure you receive the latest industry insights.

CREFC is following all CDC event guidelines for our conference and will be enforcing strict precautions throughout the entire event, including:

  • Proof of vaccination: All attendees must be fully vaccinated and provide proof of vaccination. No one will be allowed into any component of the conference without proof of vaccination.
  • Daily temperature scans: All registered attendees will have their temperatures scanned each day prior to gaining access to the conference.
  • Mask requirement: All attendees are required to wear a mask while indoors during the conference. Masks are strongly encouraged while in outside meeting spaces.
  • Social distancing: Ballrooms and meeting areas will be set to allow for distance between attendees.
  • Testing: CREFC will provide optional rapid COVID testing onsite for any attendee at no charge.
For your convenience, CREFC will be using Health Pass by CLEAR during the January Conference, which provides secure, digital proof of vaccination and other entry requirements before you check-in to the event. Download and enroll here.

For any questions, please reach out to Caitlin Adams. We look forward to seeing everyone in person next week.

Best,
Lisa Pendergast
Executive Director
CRE Finance Council

###

 

Contact

Caitlin Adams
Senior Manager, Meetings & Events
646.884.7577
cadams@crefc.org
The information provided herein is general in nature and for educational purposes only. CRE Finance Council makes no representations as to the accuracy, completeness, timeliness, validity, usefulness, or suitability of the information provided. The information should not be relied upon or interpreted as legal, financial, tax, accounting, investment, commercial or other advice, and CRE Finance Council disclaims all liability for any such reliance. © 2021 CRE Finance Council. All rights reserved.
CREFC’s Conference in Miami Is On! Health and Safety Communications
January 05, 2022
CREFC looks forward to seeing everyone at our annual January conference in Miami. After nearly two years of virtual and distanced meetings, we see significant value in convening with our peers and colleagues in-person. With this in mind, CREFC

News

New Memo Gives Insights into the 2022 Mid-Term Elections

December 20, 2021

Last week, a widely-watched observer of trends in politics, former senior advisor to President Bill Clinton, Doug Sosnik, released a memo “A Look Ahead to the 2022 Midterm Elections and Beyond” that explores the potential outcomes of the 2022 mid-term elections.

The memo argues that the mid-terms will serve as a referendum on Democratic leadership and stewardship. Sosnik identifies late-summer 2022 as a critical time for determining the outcome of the mid-term elections. Summer 2022 is a critical time because views “formed by how people feel about the current direction of the country and their daily lives” are “hardened by the end of summer in the runup to voting in the fall.” That gives Democrats six to eight months to turn their perceived polling weakness around. Sosnik writes that the state of the economy (inflation, employment, GDP growth) will determine the Democrats’’ fate in 2022, noting that “These three metrics most accurately gauge the strength of the economy and impact how voters think about the future.”

Sosnik also argues, “The results of the 2016 and 2018 elections led to five widely held assumptions that the 2020 Presidential elections and this year’s off-year elections demonstrated to be false.”

Sosnik believes that 2022 will be the best political environment for Republicans since 2010, adding that history is on the Republicans’ side in 2022 as the party in the White House traditionally loses House seats.

Contact

Christina Perez
Manager, Political and Government Relations
508.272.2592
cperez@crefc.org
The memo argues that the mid-terms will serve as a referendum on Democratic leadership and stewardship.
The information provided herein is general in nature and for educational purposes only. CRE Finance Council makes no representations as to the accuracy, completeness, timeliness, validity, usefulness, or suitability of the information provided. The information should not be relied upon or interpreted as legal, financial, tax, accounting, investment, commercial or other advice, and CRE Finance Council disclaims all liability for any such reliance. © 2021 CRE Finance Council. All rights reserved.
New Memo Gives Insights into the 2022 Mid-Term Elections
December 20, 2021
Last week, a widely-watched observer of trends in politics, former senior advisor to President Bill Clinton, Doug Sosnik, released a memo “A Look Ahead to the 2022 Midterm Elections and Beyond” that explores the potential outcomes of the 2022 mid-ter

More Advocacy Resources

CREFC State Legislation and Policy Tracker

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CREFC State Legislation and Policy Tracker (Updated 4.27.2021)

Biden Transition Guidebook

CREFC will provide weekly updates on the Presidential transition and the new 117th Congress.

Biden Transition Guidebook (updated 2.10.2021)

Policy Fact Sheets

CREFC’s Fact Sheets are intended to provide a high-level overview of legislative and regulatory policy issues affecting commercial real estate lenders and investors.  Read the facts.

Read the Latest Government Relations Alerts

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.

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