The “Location, Location, Location” mantra intended to mean the three things that matter most in real estate should be replaced by “Valuation, Valuation, Valuation.” Valuation is the foundation of a successful CMBS deal and key to setting expectations, from cash flow to recovery. It should take paramount importance in times of economic flux because when, as now, there is uncertainty and the...
Residential mortgage warehouse providers acting under repurchase or “repo” agreements as buyers should be assured that safe harbors under the Bankruptcy Code will permit them to enforce their rights under repurchase agreements when originators file for bankruptcy, but, in reality, third parties may interfere.
Joseph Cioffi was quoted in The Wall Street Journal, "Bank of America to Pay $1.84 Billion to Settle Last Major Mortgage-Crisis Suit."
As performance risk grows in consumer ABS, legal risks will ensue. To negotiate best terms and prepare for potential disputes, every investor and deal party should know the ways the law has been transformed by years of RMBS litigation. This new legal framework, which impacts when and how claims must be made in order to survive challenge, will ultimately determine who wins and who loses in any...
Joseph Cioffi was quoted in a Commercial Property Executive article, "How Rising Interest Rates Impact CMBS."
Joseph Cioffi was quoted in a Wealth Management Real Estate article, "Maturing CMBS Loans Face Greater Refinancing Hurdles."
Joseph Cioffi was quoted in an SCI article, "The HEAT is on."