by Hatem Mustapha to develop asset backed product capabilities, Societe Generale's CMBS
team will engage in the full range of CMBS
activities from origination to distribution.
The overall goal of these initiatives is to increase the transparency of the market, improve its efficiency and foster the liquidity of ABS and CMBS
Multiborrower Rating Model Technical Report' is available on the Fitch Ratings web site at www.
Just as CMBS
has helped a broader range of investors to the commercial mortgage market.
Because this type of servicing relies upon a different skill set than CMBS
servicing, Fitch-rated CMBS
servicers are not automatically qualified by Fitch to service construction loans.
| Deal Analyst is available as separate service of the company's flagship product, Reis SE.
Richard Jones, Partner, Dechert LLP and CMSA[R] President stated, "The CMBS
Investors Conference is an event that commercial real estate industry participants look forward to every year.
The maturation of the CMBS
market has produced quality data which facilitates the development of robust quantification of the key variables affecting probability of default, probability of loss and loss severity," said Managing Director and CMBS
group head Susan Merrick.
Richard Jones, partner of Dechert LLP and CMSA president, added, "With the incredible growth of the CMBS
industry in recent years, it is extremely important that servicers, trustees and investors be able to smoothly transfer information among various parties in a deal.
Non-standard servicing opportunities for CMBS
servicers are becoming more prevalent, and come with additional covenants, trigger events and reporting requirements," said Carlson.
To further highlight the potential impact, CMSA President and Partner, Dechert LLP, Richard Jones, stated, "The rules proposed by the SEC do not reflect the recognized practices that CMBS
participants have developed over the years to provide investors with focused and useful disclosure and reporting specifically tailored for the investors' needs.
Deals issued last year averaged 70% of full or partial interest-only terms in a CMBS
pool, compared with 60% in 2005,' said Senior Director Britt Johnson.