TALF Extended
Not surprisingly, the Federal Reserve announced today that it is extending the TALF program from the December 31, 2009 deadline to March 31, 2010 for newly issued ABS and legacy CMBS and to June 30, 2010 for newly issued CMBS. While the Fed acknowledges that conditions in the financial markets have improved, it still views the markets for asset backed securities and commercial mortgage backed securities as "impaired." The Fed is also leaving the door open to further extensions should conditions warrant. Another outstanding issue is whether to expand the TALF to include other types of eligible collateral. The Fed said in its announcement that it and Treasury will reconsider the issue "if financial or economic developments indicate that providing TALF financing for investors' acquisitions of additional types of securities is warranted."
I have been trying for almost a year to access the feds cmbs program. I have contacted my congressmen, contacted every "primary Dealer" and agent to see who is participating and how and have received next to nothing in response. Is this a secret program for insiders? Are details still in development stage? I own well performing property that could use financing to expand operations.