MBA Applauds the Inclusion of Legacy CMBS in TALF

Michael D. Berman, CMB, Vice Chairman of the Mortgage Bankers Association (MBA), today issued the following statement following the announcement by the Federal Reserve Board that it will include certain high quality Commercial Mortgage-Backed Securities (CMBS) issued before January 1, 2009 in the Term Asset-Backed Securities Loan Facility (TALF). `MBA applauds today`s announcement by the Federal Reserve to include legacy assets in the TALF program for CMBS, which is anticipated for a July launch,` said Berman. `The inclusion of these CMBS will greatly broaden the eligible assets for the TALF program. We believe this will enhance liquidity in the CMBS market and thus help jump start this currently static market.`