Market Overview

DebtX: CMBS Loan Prices Decreased in July

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DebtX,
the largest marketplace for loans, said today that prices of commercial
real estate loans underlying CMBS declined slightly in July.

During the month, the estimated price of whole loans securing the CMBS
universe decreased to 96.2% at the end of July, from 96.5% at the end of
June. Prices were 96.5% in July 2017.

"The modest decline in loan prices in the CMBS universe in July can be
primarily attributed to changes in the yield curve rather than credit
quality," said DebtX Managing Director Will
Mercer
.

As of the end of July, DebtX priced $1.22 trillion in commercial real
estate loans that collateralize U.S. CMBS trusts. From last month, the
median adjusted loan-to-value remained at 58%, and the median debt
service coverage ratio was unchanged at 1.52. The median estimated loan
yields increased to 4.7%.

DebtX provides third-party loan valuation services for both public and
private clients, as well as analytics and data based on nearly two
decades of secondary market loan sales at DebtX. To learn more, call
617.531.3429 or for information about loan sale advisory services, call
617.531.3400.

About DebtX

DebtX operates the world's most liquid marketplace for loans. Through
its loan
sale advisory
, DebtX maximizes loan sale proceeds for financial
institutions and government agencies. DebtX also provides loan
valuation, analytics and market data
for regulatory and audit
purposes. For banks preparing for CECL, DXCDA
is a fully outsourced, independent service that saves time and money.
For syndication, agency, and loan sale professionals, DebtX provides a
suite of web-based
deal management
solutions. For loan originators and risk managers, DXScore®
is the firm's credit rating system for commercial real estate loans.
DebtX is based in Boston, with offices across the U.S., South America,
Europe and Asia. Call 617.531.3400 or visit www.debtx.com.
Follow DebtX on Facebook,
Twitter
and LinkedIn.

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