tag:blogger.com,1999:blog-7806136543904112143.post1727719057869382138..comments2023-10-30T09:23:42.803-05:00Comments on Some Assembly Required: SAR #9117Charles Kingsley Michaelson, IIIhttp://www.blogger.com/profile/04364694465614330540noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-7806136543904112143.post-39367855406618351112009-04-28T12:52:00.000-05:002009-04-28T12:52:00.000-05:00CKM - no, thank you! You daily compendium is alwa...CKM - no, thank you! You daily compendium is always one of my first stops on the information superhighway. I especially appreciate the connections that you make between events/news that may often seem disassociated.<br /><br />jfwellsjfwellsnoreply@blogger.comtag:blogger.com,1999:blog-7806136543904112143.post-84334532983648362502009-04-27T20:50:00.000-05:002009-04-27T20:50:00.000-05:00jfwells - thanks for the on-going education.
ckmjfwells - thanks for the on-going education.<br />ckmCharles Kingsley Michaelson, IIIhttps://www.blogger.com/profile/04364694465614330540noreply@blogger.comtag:blogger.com,1999:blog-7806136543904112143.post-17421209469958438492009-04-27T17:36:00.000-05:002009-04-27T17:36:00.000-05:00RBM - CRE lending for insurance companies is prett...RBM - CRE lending for insurance companies is pretty much the same for both mutual and public companies. They both are matching up the returns from those loans against liabilities that they expect to have from their insurance business. One thing that I heard from quite a few insurance companies when I was trying to place loans was, "why should I do that loan when my bond traders can get such a good deal on AAA CMBS paper?" Lots of money got allocated there when the CMBS market crashed. My argument always was, "who says that CMBS paper is really worth it's 'AAA' rating? You have no idea who originated those loans, how they underwrote them, or even what loans are in that bundle. With my loan you know exactly what you were getting." Sadly, didn't work too well. If you are looking at insurance companies I would keep an eye out for their bond portfolios.<br /><br />jfwellsjfwellsnoreply@blogger.comtag:blogger.com,1999:blog-7806136543904112143.post-56812684854774264682009-04-27T16:26:00.000-05:002009-04-27T16:26:00.000-05:00jfwells:
Thanks! I assume that the mutuals as ...jfwells: <br /><br />Thanks! I assume that the mutuals as well as the publicly traded have the same issue?<br /><br />RBMAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7806136543904112143.post-13753572448534556672009-04-27T11:15:00.000-05:002009-04-27T11:15:00.000-05:00RBM - The graph shows how much CMBS originations d...RBM - The graph shows how much CMBS originations dropped off in 2008 for one thing. Commercial real estate loans are typically of 5 year terms if you get it from a bank (or thrift) and 10 from an insurance company or CMBS. The CMBS market went boom in late July 2007. Those loans that they originated in 2004 through 2007 are reflected in the maturities ten years later. Unfortunately, much of those loans were originated with fast & loose underwriting and many of those loans will be underwater when the property owner tries to refinance. Now that there is essentially no CMBS origination, the Banks and Life companies will need to take up the slack.<br /><br />jfwells<br />(have worked in loan origination for a Life Insurance company, Commercial RE Mortgage Banking, and now in Commercial RE underwriting for a Bank)jfwellsnoreply@blogger.comtag:blogger.com,1999:blog-7806136543904112143.post-65385133975669141942009-04-27T10:35:00.000-05:002009-04-27T10:35:00.000-05:00I cannot believe it!! US banks have actually writ...I cannot believe it!! US banks have actually writen off half of their bad assets, vs. 17% for european banks. whoduthinkit...<br /><br />USA.USA...USATulsaTimenoreply@blogger.comtag:blogger.com,1999:blog-7806136543904112143.post-71898562089827006952009-04-27T09:50:00.000-05:002009-04-27T09:50:00.000-05:00RE: Porn O'Graph:
Why don't I understand this ch...RE: Porn O'Graph:<br /><br />Why don't I understand this chart. Is it good for the insurance companies? <br /><br />RBMAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7806136543904112143.post-14337128305607804432009-04-27T08:16:00.000-05:002009-04-27T08:16:00.000-05:00Best systems? Aren't we all trying out anarchy at...Best systems? Aren't we all trying out anarchy at the moment? At least I am.Demetriushttps://www.blogger.com/profile/17198549581667363991noreply@blogger.com