Intro -- COMMERCIAL REAL ESTATE: BACKGROUND AND ISSUES -- COMMERCIAL REAL ESTATE: BACKGROUND AND ISSUES -- LIBRARY OF CONGRESS CATALOGING-IN-PUBLICATION DATA -- CONTENTS -- PREFACE -- Chapter 1 COMMERCIAL REAL ESTATE LOSSES AND THE RISK TO FINANCIAL STABILITY -- EXECUTIVE SUMMARY* -- SECTION ONE: FEBRUARY REPORT -- A. Introduction -- B. What is Commercial Real Estate? -- 1. Types of Commercial Real Estate -- a. Retail Properties -- b. Hotel and Tourist Properties -- c. Office Buildings -- d. Industrial Properties -- e. Multifamily Housing and Apartment Units -- f. Homebuilders -- 2. How Commercial Real Estate Is Financed -- a. Construction and Development Financing -- b. Permanent Financing -- 3. Kinds of Difficulties Commercial Real Estate Can Encounter - An Introduction -- C. History of Commercial Real Estate Concerns -- 1. Commercial Real Estate Crises of the 1980s and 1990s -- 2. Recognition of Commercial Real Estate Problems before the Crisis Broke -- 3. During the Late 2000s -- 4. Emergency Economic Stabilization Act and the TARP -- D. Present Condition of Commercial Real Estate -- 1. Economic Conditions and Deteriorating Market Fundamentals -- E. Scope of the Commercial Real Estate Markets -- 1. Whole Loans -- 2. Commercial Mortgage Backed Securities (CMBS) -- a. Servicing -- b. Underlying Property and Location -- 3. CMBS Credit Default Swaps -- 4. Financing of Multifamily Housing -- F. Risks -- 1. Loans Become Delinquent -- 2. Loans Go into Default or Become Non-Performing -- 3. Loans Are Not Refinanced -- a. Qualifying Loans Face Scarcity of Credit -- b. Loans that Fail to Qualify for Refinancing -- 4. New Loans Fail to Get Financing -- 5. Broader Social and Economic Consequences -- G. Bank Capital -- Financial and Regulatory Accounting Issues -- Counterparty Issues -- and Workouts -- 1. Commercial Real Estate and Bank Capital278.
