See the article here: http://www.globest.com/news/1454_1454/newyork/179891-1.html
From this and a bunch of reporting I saw on Bloomberg tv over the week, it looks as though the market for existing CMBS issuances has stabilized. According to Bunby, it has not affected new issues to date, but it appears as though we may see a break in that iceberg soon.
"Earlier this week, CMBS experts told GlobeSt.com that the TALF program stood a chance of succeeding if the pieces fall into place. 'The reason no one applied for the first round is that there simply was no new product in the marketplace,' Spencer Levy, senior managing director with CB Richard Ellis, told GlobeSt.com on Tuesday. 'The view I’ve gotten from the marketplace has been a bit warmer than what some suggest, particularly from some of the originators,' because 'they see some purchasers of their CMBS securities are going to be able leverage it up using TALF capital.'"
Stay tuned, this could change everything.
Todd
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