A significant number of mortgages are maturing in the near-term, requiring refinancing at a time of relatively higher interest rates and lower occupancy. These are factors that tend to reduce valuations. Reduced valuations, in turn, increase the risk of losses and litigation. Continue Reading
ProPublica | Wall Street Bet Big on Used-Car Loans for Years. Now a Crisis May Be Looming.
For years, investors bought bonds backed by auto loans because they were considered extremely reliable, even amidst harsh financial markets and downturns in the economy. For the first time in decades, concerns are growing in the subprime auto market and regulators are watching closely. Joseph Cioffi Continue Reading
Structured Credit Investor | Skid Marks: Subprime Auto ABS Shows Sign of Pain
In the subprime auto ABS market, losses have begun to appear in certain deals and there are signs of a downturn for the first time since the 1990s. Joseph Cioffi was quoted multiple times in the Structured Credit Investor article, “Skid Marks: Subprime Auto ABS Shows Sign of Pain,” commenting on how Continue Reading
Subprime Auto: Cracks in the Road Starting to Show
Structured Credit Investor | Litigation Looms: Investor Disputes to Rise as CMBS Valuations Decline
Rising interest rates and post-pandemic trends have put pressure on valuations in the commercial real estate market in the United States, potentially triggering defaults and a rise in litigation over control rights in CMBS. Joseph Cioffi was quoted throughout the Structured Credit Investor article, Continue Reading
Commercial Observer | How Valuation and Materiality Become Catalysts for CRE Litigation
Talking Compliance and Risk with Davis+Gilbert Partner Joseph Cioffi
The Wall of Maturities Looms in the Shadow of Bank Failures. What’s Next for Commercial Real Estate?
Commercial real estate (CRE) sectors have not escaped the perma-crisis era in which we live, and the worst appears yet to come. First, hospitality and retail suffered setbacks with pandemic lockdowns. Then, the persistence of work-from-home and employee resistance to returning to the office Continue Reading
Will Another Bank Fail? Identifying Legal and Business Risks from Banking Turmoil
Does First Republic represent the beginning of the end of a banking crisis or is it merely the end of the beginning stage of banking turmoil set in motion by the run on Silicon Valley Bank (SVB)? To successfully navigate the uncertainty, below are five areas of concern and the tools to address Continue Reading
It Could Happen Again: What to Know If There is Another Bank Failure
Prompted by the collapse of Silicon Valley Bank (SVB) on March 10, 2023, depositor fear has spread to thousands of other regional and community banks across the nation, despite extraordinary measures taken by the federal government to stabilize the U.S. banking system. Should additional Continue Reading