Lawmakers ask for relief for CMBS borrowers

More than 100 members of Congress are requesting that the Federal Reserve and the Trump administration support real estate borrowers who are unable to keep up with payments on debt tied to CMBS. “Without a long-term relief plan in the face of an elongated crisis, CMBS borrowers could face a historic wave of foreclosures starting this fall, impacting local communities and destroying jobs for Americans across the country,” according to a letter from the lawmakers.

Read full story