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Ups and Downs for Legacy CMBS: TALF Expands, but S&P Signals Downgrades |
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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The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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