Real Insight. Real Estate.

Posts Tagged ‘TARP’

- The Fed is looking to to calm the markets down after the discount rate increase.

- General Growth Properties bluntly turns down Simon Properties’ publicly announced $10 bil offer.

- 11 US banks that received TARP money posted a 13% increase in loan originations in December.

- Wells Fargo tops 2009 mortgage servicers ranking list.

- Kansas’ own “Fedstradamus” grimly predicts that rising deficits and maintaining interest rates at zero, may be our demise again.
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Starwood Hotels CEO on Earnings and Outlook

Geithner On Community Banks

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The Week of January 31 - February 6

- Are real estate executives gaining confidence in the general market?

- Obama’s budget has hazy implications for commercial real estate.

- Former Security Capital Execs Plan REIT IPO.

- Despite the scare, Fannie Mae still funded over 80% of its loan originations last year with its MBS program.

- Will an infusion of TARP money into small banks result in productive lending to small businesses and real estate?
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Stanley Bing, an often insightful contributor to Fortune Magazine, wrote a very interesting blog post last week in regards to banking compensation. He cites an article in the NY Times that said, “Roughly 90 cents out of every dollar that these banks earned in 2009 — and sometimes more — is going toward employee salaries, bonuses and benefits, according to company filings.”  The paper also notes that Citigroup “paid its employees so much in 2009 –$24.9 billion — that the company more than wiped out every penny of profit.”  There has been a lot of outrage over banking institutions who took TARP money paying such exorbitant salaries and bonuses…but is it really a bad thing? Read the rest of this entry »

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The Week of January 9-15

- China is trying to prevent its real estate bubble from growing before it bursts.

- CalPERS is planning on taking a public dump on the middlemen who advised them so poorly.

- Will a missed payment on Stuyvesant Town prompt foreclosure proceedings?

- The White House is contemplating taxing banks to recoup TARP losses.

- Jamie Dimon, never one to mince his words, called CRE a “train wreck” this week.
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It’s a new year, and with it comes hope.  Yet, for the commercial real estate industry, hope has been replaced by fear, skepticism, cynicism, and negativity.  Most of those feelings stem from the fact that most experts agree that things have to get worse before they can get better.  Namely, the 5 year CMBS loans taken out at CRE’s peak in 2007 are going to come due during an illiquid market in which banks either cannot or care not to extend or modify them. And that has led to Jekyll and Hyde regulation. Read the rest of this entry »

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The Week of December 19-25

- How far away is CRE from rebounding?  Could it only be a year away?

- The Fed has turned down only 3 of 58 legacy CMBS applications for TALF financing.

- How long could small banks suffer for their bad CRE bets?

- CRE in 2009: Where deleveraging is seen as the year’s biggest accomplishment.

- Despite the surge in REIT investment, could there still be opportunity?
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The Week of December 12-18

- Is all of the loose spending by world governments creating a massive asset bubble risk?

- If Fed funds and interest rate hikes aren’t coming, then we’ve got one confused futures market.

- Dollars from Dhabi to Dubai: One Arab nation is bailing out a neighbor.

- Specialized investment banks are ramping up to prepare for CRE turmoil.

- Fairfield Residential, one of the biggest U.S. apartment landlords, is filing for Chapter 11.
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Could well capitalized regional banks become dominant players post-crisis?

Mad Money’s Jim Cramer thinks so.  Here, he does an interesting case study on Zion’s Bank.

What about bigger mid-tier banks?

TD Bank CEO Ed Clark discusses the company’s plan to address loan deterioration and its financial outlook.

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The Week of December 5-11

- CRE debt has slowly but surely become a major issue for banks.

- As noted in a post this week, being a mogul elsewhere doesn’t lend success in real estate ventures.

- Centro used a $300M credit facility this week to refinance its debt.

- Citigroup and Wells Fargo took steps this week to exit TARP.

- Pyramid Hotels & Resorts launched their IPO this week.
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