6/11/2013

Standard & Poor's reports that a good portion of CMBS deals done in 2013, namely conduit/fusion transactions, are riskier compared to vintage deals. Underwriting standards are slipping, it said. "Borrowers have increased leverage, riskier interest-only loans have become more prevalent and the percentage of lodging collateral -- which Standard & Poor's considers one of the riskier property types -- is climbing."

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