CPN - February 2009 - (Page 18)

INDUSTRY PULSE M ORTGAGE B ANKING immediate-term efforts to kick-start lending with longer-term strategies for establishing and maintaining a viable structural framework for secondary real estate debt markets. While the Real Estate Roundtable and Commercial Mortgage Securities Association are helping coordinate industrywide efforts to resume the capital flow (see “Resolution?” on page 19), the MBA is logically taking the lead in developing sound secondary-market models, Berman added. As for the near-term cause, a diverse group of high-level commercial property pros met in New York City in early January, and dozens more joined via conference call.The aim was to provide an update on lobbying efforts and, especially, strategize on how the industry should communicate its concerns to legislators and regulators.The group agreed to continue holding weekly calls among point people from numerous associations in order to assure a coordinated message, Berman recalled. Meanwhile, each group continues with efforts pertaining to its specific constituency. The MBA’s approach to mending secondary markets is something of a three-step process. The first entailed forming a secondary-markets task force, along with organizing a major summit for last November to analyze how the marketplace broke down and propose viable long-term solutions. Along with Berman and outgoing MBA chairman Kieran Quinn, commercial mortgage banking members of the council include Peter Donovan of CBRE Capital Markets, David Roberts of Grandbridge Real Estate Capital L.L.C., Rodrigo Lopez of AmeriSphere Multifamily Finance and Diana Reid of PNC Real Estate Finance. The group, formally dubbed the Council on Ensuring Mortgage Liquidity, followed up with a 40-page white paper on the topic, highlighting multiple complex issues and offering common industry terminology and definitions for all interested parties. Now, council members are developing a series of guiding principles for “re-creating a functioning secondary mortgage market” that Berman said the MBA will utilize in legislative and regulatory advocacy efforts.The plan is to have the organization’s residential and commercial/multi-family boards of governors adopt the recommended roster of principles,ideally at the MBA’s commercial/multi-family finance conference this month. Lobbyists will subsequently tap the materials when advocating on Capitol Hill in connection with legislation reforming the secondary mortgage markets and the roles of Fannie Mae and Freddie Mac. Berman thinks the MBA and partner associations have made significant progress in getting their message to the right people since an initial meeting in House Financial Services Committee chairman Barney Frank’s office in November. “The amount of bandwidth we had back then was almost nonexistent, but 60 to 75 days later, we are on people’s radar screens,” he con- Resourcefulness. When it comes to placing debt and equity, resourcefulness is what it’s all about. At NorthMarq, we’re dialed in to over 50 different life insurance companies and scores of equity sources to help you secure that extra layer of capital that makes all the difference. If you gauge success on the ability to close the deal with confidence and timely precision, there’s nobody faster, stronger or better connected. Capital Market Solutions Debt • Equity • Investment Sales northmarq.com 18 COMMERCIAL PROPERTY NEWS • Februar y 2009 • www .cpnonline.com http://www.northmarq.com http://www.northmarq.com http://www.cpnonline.com

Table of Contents Feed for the Digital Edition of CPN - February 2009

CPN - February 2009 Contents Starting Line Buzzworthy Office Data/Analysis Washington, D.C., Market Profile Ranking: Mortgage Banks & Brokerage Firms Top Deals of 2008 Mortgage Banking Mexico Brokerage Sustainability CPN-Nielsen Claritas Special Report Resource Guide

CPN - February 2009

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