July 2016

  • Wells Fargo Policy Change Regarding Defeasance – July 20, 2016

    Wells Fargo has always allowed the securities portfolio to be structured to the open window rather than final maturity.  This reduced the defeasance cost by approximately three months of interest. This policy has changed recently without notice.  Unless the documents specifically state the defeasance will be calculated to the open window, borrowers are now required […]

  • Refinance Risks at Home and Abroad – July 11, 2016

    Risks at Home – The Fed If there’s one thing that the Fed is good at, it’s sending markets into a panic. And then calming them. And then sending them into a panic again. And then calming them… you get the point. We affectionately refer to this as “The Fed Cycle”. Markets dislike volatility. The […]