We break down the massive spike in CMBS delinquencies (the largest month-over-month increase we’ve seen since 2009), the financial performance of malls, loan forbearance expectations, office exposure in the CMBX 12 index, office loan refinance risk, an important court decision for the syndicated loan market, and what our summer vacations might look like. Episode Notes: Where are we in the economic recovery? (00:59) The largest jump in CMBS delinquencies since 2009 (7:45) Analyzing the financial performance of malls (13:36) Loan forbearance expectations as we enter June (20:01) Looking at the CMBX 12 index and office exposure (25:13) Lease comp data reveals office loan refinance risk (29:51) An important court decision: syndicated loans are not securities (32:58) What will our summer vacations look like? (33:55)

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“What did the council decide on item 42?” — answered with the speaker and the moment.

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