Legislators urge relief for battered CMBS market

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By Max Adams
25 Jun 2020

A group of lawmakers led by Texas Republican Van Taylor has sent a letter this week to secretary of the Treasury Steven Mnuchin and chairman of the Federal Reserve Jerome Powell, urging them to address the ‘looming crisis’ in the commercial real estate market, particularly for struggling borrowers saddled with CMBS debt.

The letter, sent to Mnuchin and Powell on June 22, was signed by a bipartisan group of 105 Democrat and Republican lawmakers. It calls for an emergency facility to “bridge the temporary liquidity deficiencies facing commercial real estate borrowers created by this unforeseen crisis”.

“Unfortunately, for CMBS borrowers, ...

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