Cobblestone Courier – October 2019
October 16, 2019 - By:

The Commercial Mortgage Back Securities Market: Lessons from the Great Financial Crisis

It has been widely reported in recent weeks that the presence of an Inverted Yield Curve has preceded the onset of recessions by an average of 22 months during the last several economic cycles. “Whether or not the inverted yield curve present today turns out to be an accurate predictor of recession in the current economic cycle, it’s a worthy exercise to compare the CRE markets and lending environments today with those in the months preceding the onset of The Great Recession of 2008,” says Jeffrey Nolan, Managing Director at Cobblestone Management. “In particular, data from the Commercial Mortgage Back Securities (“CMBS”) market preceding 2008 – and the period since – is informative to Banks and risk managers on several levels.”

Jeffery Nolan
Jeffrey Nolan joined Cobblestone Management in 2016. He has thirty years of experience in commercial banking, loan servicing, real estate finance and hospitality consulting, and worked at Bank of New England and Fleet Bank. Jeff is a graduate of Colby College and the Center for Real Estate at Massachusetts Institute of Technology.

More about Cobblestone Management

Cobblestone Management has assisted financial institutions with their risk management practices for over thirty years.  We assist financial institutions in their risk management practices with high quality, market-leading products and services delivered through experienced and independent professionals. These include but are not limited to loan review, stress testing, credit underwriting support, Merger & Acquisition Due Diligence and consulting, and special credit projects.