| Increasingly aggressive property appraisals, so-called "incentive management fees" for hotel properties, and the limited return of "pro forma" underwriting are among the troubling trends that Standard & Poor's cites as red flags in the quickly evolving revival of the commercial mortgage-backed security market.
In a report released earlier this week, Standard & Poor's identifies several new trends - and a return to questionable "old" trends - in recent CMBS transactions...............................................Full Article: Source
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