Brace for Impact: CRE Finance Implications as LIBOR Transition Approaches

The finance industry’s march towards transition away from LIBOR index continues as the third quarter approaches. For all the talk of upward revisions to economic growth projections, the market still awaits the first balance sheet commercial mortgage loan based on SOFR index.

MBA, Trade Groups Support ‘Tough Legacy’ LIBOR Draft Legislation

The Mortgage Bankers Association and nearly 20 other industry trade associations sent a letter this week to House Financial Services Committee leadership in support of draft legislation that would address “tough legacy” contracts that use the London Inter-Bank Offered Rate, or LIBOR.

LIBOR: The Floodwaters are Rising

In late 2019, the international financial industry generally considered the United States to be leading the way on LIBOR transition efforts. Then COVID-19 turned the world upside down and many companies had to shift resources to respond.

MBA Advocacy Update: June 8, 2020

MBA remains actively engaged with decision-makers at all levels of government to help shape the response to the effects of the pandemic on the mortgage market. Last week, the Senate passed legislation that would ease restrictions on the SBA’s Paycheck Protection Program, which President Trump signed into law on Friday.