lenders have returned to more traditional underwriting standards, and revised their standard CMBS 1.0 loan documents to impose greater borrower obligations.This led to stricter underwriting for CMBS loans. This is partially due to changes in regulations for the companies that create the loans. Typically, CMBS lenders have looser underwriting standards than those of banks. With exceptions, CMBS loans generally have the following characteristics to The underwriting standards (for example, whether the lender requires escrows for various reserves or requires seismic insurance for properties located in
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