The Fed and the Treasury Department announced that the "Term Asset-Backed Loan Facility", or TALF, is being extended through March 31, 2010 for newly issued ABS and legacy CMBS, and through June 30, 2010 for newly issued CMBS.
Though the program's criteria is not being expanded, it nevertheless seems like this is good news for the market as financing remains a challenge. The Insider has been seeing cracks of light mostly from smaller, regional banks in which a preexisting relationship exists. But there are other goods signs that financing is returning as well. As Reuters reported, Citigroup analysts believe commercial real estate lending is reemerging on the west coast. Let's hope the easterly winds pick up.
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