FIRST DRAFT LIVE: CMBS Pioneer Ethan Penner On CRE's 'Breathtaking' Losses
CMBS is cracking under the pressure of an unstable market. Unresolved loans make up 75% of delinquent loans tied to CMBS, up from 42% three years ago, and $23B of these delinquent loans are at or near maturity. Many of these loans originated when interest ...