S&P identifies troubling trends in CMBS market (Reuters)

NEW YORK, May 26 (IFR) – Increasingly aggressive property appraisals, so-called “incentive management fees” for hotel properties, and the limited return of “pro forma” underwriting are among the troubling trends that Standard & Poor’s cites as red flags in the quickly evolving revival of the commercial mortgage-backed security market. In a report released earlier this [...]

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