The aggregate value of commercial real estate (CRE) loans priced by DebtX that collateralize commercial mortgage-backed securities (CMBS) decreased to 80.3% as of Nov. 30, 2010, from 80.9% as of Oct. 29, 2010. Loan values were 77.7% as of Nov. 30, 2009.
The decline in value in November was tied to an increase in Treasury rates, explains DebtX CEO Kingsley Greenland.
"Rising Treasury yields were partially offset by tighter whole-loan spreads for higher-quality assets,’ Greenland says.
In November, DebtX priced 55,886 CRE loans with a $662.5 billion aggregate principal balance. The loans collateralize 616 U.S. CMBS trusts.
SOURCE: DebtX
