Notas | Notas Septiembre - 2010 | CMBS Hiring Picks Up

I2CREDIT Nº 20

CMBS Hiring Picks Up

CMBS Hiring Picks Up After commercial mortgage-backed securities sales plummeted into near oblivion in 2008, the market is emerging again as commercial property values stabilize. And banks are circling in competition for a piece of the pie (...)

Por: FINSwire Team

Wells Fargo has hired 20 bankers and support staff in the past few months to boost its loan originations functions, Bloomberg reported. In the meantime, Australia-based investment bank Macquarie announced plans last month to set up a group to originate commercial property loans in the U.S. while New York-based brokerage Cantor Fitzgerald said it would securitize $5 billion in loans in the next year.

Banks such as J.P. Morgan Chase & Co., Goldman Sachs, and Citigroup planned to launch offerings of CMBS to the worth of $1.4 billion, The Wall Street Journal reported in July.

The CMBS market has seen sharp falls since its peak in 2007 when sales brought in a staggering $234 billion. By 2009 the figure dwindled to a mere $3.4 billion, according to Bloomberg. But investment banking heads remain optimistic about it re-emergence, as regulation raises ratings and underwriting standards, making it a much less risky process.

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