New Legislation Would Aid Cash-Strapped Commercial-Property Owners

Bill would create funding vehicle to help CMBS borrowers make their mortgage payments

Lawmakers introduced a bill Wednesday to provide cash to struggling hotels and shopping centers that weren’t able to pause mortgage payments after the coronavirus shut down the U.S. economy.

The bill would set up a government-backed funding vehicle that businesses could tap to stay current on their mortgages. It is meant in particular to help those who borrowed in the $550 billion market for mortgages that are packaged into bonds and sold to Wall Street.

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