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Drexel Hamilton, a startup broker-dealer making inroads in capital markets, pairs Wall Street pros with disabled military veterans, training the latter for new careers. It's a nice story, but in the ultra-competitive market of small-bank advising, will it sell?
April 25 -
Commercial real estate's comeback is happening unevenly, with the recovery strongest for big banks and big cities.
March 24
Prices for loans underlying commercial mortgage-backed securities held steady over the past month, according to DebtX, which operates an online marketplace for loan sales.
"Prices were flat given the yield curve and consistent fundamentals," said Will Mercer, a managing director at the Boston firm, in a press release. "In the secondary markets, we saw essentially the same pattern."
The value of the securitized loans underlying CMBS bonds stayed at 94.7% of face value between Feb. 28 and March 31, an increase of 3.3 percentage points from a year ago.
DebtX also reported that so-called "impaired performing loans," a category of loans with payments that differ from their original terms, traded at 78.8%, down just one basis point from February, but up 5.3 percentage points from March 2013.
Non-performing loan prices traded at 46.5% of face value in March, a decrease of 8.8 points over the last 12 months.