First multifamily deal issued under Ginnie Mae's REMIC program

Recent commercial mortgage industry ratings actions

Loan portfolio was 30.4% multifamily mortgages, 29.3% office buildings loans & 16.4% anchored retail space mortgages

Commercial real estate performance is expected to hold steady through current troubled times in stock market

HUD estimates change will allow for an extra $300 million in construction of 3,000 more units in high-cost areas

Long-Shunned City Core Is Winning The Attention of Some Big Developers

Mortgage secured by 3 Calif. industrial properties w/state-of-the-art big-box warehouse/distribution facilities

189-unit seniors apartment community located in Las Vegas has debt service coverage of 1.30 times

Security is a 100% leased, five-story property located in Redwood City, Ca

Transaction priced at $16 per share in cash

Wal-mart anchored retail property located in Ohio financed for $5.95 mil

Sale of loans nets HUD $94 million

$36.7 million in overstated gains during the first nine months of 2000

$465.95 mil cert secured by five 1st mortgages with a weighted average ending LTV of 60.1%

Pool has continued to have many loans of concern

A glance at the week ended
February 10th

Office rates have leveled off in Silicon Valley

4th quarter net earnings $20.9 million, 23% more than same period in 1999

Commercial real estate finance/multifamily housing convention being held in San Diego

Global market seems to provide clearest growth engine for CMBS in years ahead

155-unit Courtyard in Milpitas, CA

2.4% of the pool, in special servicing;
weighted-average DSCR is 1.52 times (x) up from 1.45x at origination

Actions reflect a collateral pool that had paydowns resulting in higher subordination levels for rated classes

The company closed 77 commercial FHA loans totaling $440 million

Action reflects strengths of computer systems, procedures, management team, internal controls, and CMBS special servicer accomplishments

South Florida commercial real estate market forecast

Recent addition of experienced CMBS personnel enables Bank to offer mortgage Securitizatons service

Net income for health care REIT was $63.5 million

Fannie Mae refinance loan has loan-to-value of 80% and debt service coverage of 1.25x

$16.5 mil sale leaves investment portfolio comprised of 5 mortgage loans & 1 real estate equity investment

Pool of factory outlet and community retail centers loans downgraded due to deteriorating property performance

Pool has experienced significant loan payoffs, and weighted average debt service coverage increased to 1.94x from 1.30x at issuance

Fannie Mae DUS loan has loan-to-value of 80% & debt service coverage of 1.25

Loan-to-value 80%; debt service coverage 1.57x

Analysts predict retail vacancy rates will climb, new store construction will fall and retail rent prices will level off over next six to 12 months

Outlet mall REIT sold four top properties as part of financing deal

Lenders like SWH Funding provide commercial mortgage loans when conventional financing is not an option

Loan-to-value was 80%, and debt service coverage was 1.16 times

Cushman & Wakefield Inc. has acquired The Apartment Group

FHA 221(d)4 loan has debt service coverage of 1.33 times and loan-to-cost of 90 percent

Fannie Mae DUS loan rate was 8.0%, with an LTV of 89.5 percent and debt service coverage of 1.15

Financing for properties in New York state consists of floating and fixed-rate funding

Old economy companies finding better deals now than last year

Denver area report predicts overall strength in the apartment, industrial, office and retail markets

Task force plans to address problems arising from incomplete or defective loan files