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Ups and Downs for Legacy CMBS: TALF Expands, but S&P Signals Downgrades by Peter K. McKee
Andrews Kurth LLP - Dallas Office
Charles T. Marshall
Andrews Kurth LLP - Dallas Office
Patrick C. Sargent
Andrews Kurth LLP - Dallas Office
Peter Bogdanow
Andrews Kurth LLP - Dallas Office
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June 23, 2009
Previously published on May 29, 2009
Recent developments presage dramatic impacts for CMBS market participants. First, the good news: with its May 19 announcement that the Term Asset-Backed Securities Lending Facility (TALF) would be expanded to include pre-2009 commercial mortgage-backed securities (Legacy CMBS), the Federal Reserve has given investors some intriguing options among government programs intended to revive securitization.
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