“MBA has consistently advocated for a longer duration for the CMBS TALF program as an essential element for its success. We strongly endorse today’s announcement by the Federal Reserve to extend the program in order to promote financial stability and to enhance liquidity in the CMBS market,” said Berman.

The Federal Reserve will now make TALF loans against newly issued ABS and legacy CMBS through March 31, 2010, and because new CMBS deals can take a significant amount of time to arrange, the Federal Reserve and Treasury approved TALF lending against newly issued CMBS through June 30, 2010.  The securities already eligible for collateralizing TALF loans include the major types of newly issued, triple-A-rated ABS backed by loans to consumers and businesses, and newly issued and legacy triple-A-rated CMBS. MBA will continue to closely monitor the implementation of the CMBS TALF program in order to optimize its impact on commercial real estate liquidity. 

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The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 280,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation's residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,200 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field. For additional information, visit MBA's Web site:  www.mortgagebankers.org.