An eviction moratorium issued Tuesday by the Centers for Disease Control and Prevention is drawing a chorus of disapproval from rental housing advocates who say the action is overly burdensome and interferes with their own obligations to provide safe and affordable housing. The moratorium halts evictions for renters who expect to earn less than $99,000 this year on their own or less than $198,000 if they file jointly. It also applies to any renter who did not report income in 2019 or received a stimulus check earlier this year. To qualify, tenants must provide a sworn declaration that states an eviction would leave them homeless or force them into “close quarters in a new congregate or shared living setting,” and they must affirm that they have used “best efforts to obtain all available government assistance for rent or housing.” Click to read more at www.forbes.com.

Williams & Williams, a worldwide real estate auction firm and leader in global live and interactive auctions, will auction several surplus real estate properties for energy midstream company Archrock Services L.P. (NYSE: AROC). Listings include warehouse, office space, and land parcels for auction on September 29. The vacant residence in New Castle, PA will sell in an online only auction Sept 28-30 at AuctionNetwork.com. The auctions are being offered in conjunction with commercial broker JLL. The commercial properties include three land lots and two light industrial buildings in Victoria, TX; improved lot in Broussard, LA; and office/warehouse/shop property in Belle Chasse, LA. Fontana Fitzwilson, Executive Vice President of Williams & Williams, says “We are honored to be selected by Archrock to assist with the auction of their surplus real estate. The auction process they have chosen is both effective and efficient and powered by technology that lets anyone in the world participate in these auctions. We are honored they selected us for our knowledge and experience in the oil and gas sector.” Click to read more at www.wfmz.com.

It’s easy to say nobody was entirely prepared for the global pandemic that all but shut down the U.S. economy in March. But when it comes to sectors of commercial real estate that were especially vulnerable to COVID-19, the commercial mortgage-back securities market makes a compelling case for special attention. Representing roughly $490 billion of the $3.5 trillion in commercial real estate debt, according to the Mortgage Bankers Association, CMBS is a common financing avenue for CRE projects that, on the whole, offer non-recourse provisions, higher proceeds, and less stringent underwriting practices. Instead of a traditional bank loan, CMBS are securitized by the bond market, which provides these benefits. But such pros come with a few extra strings. One crucial characteristic of CMBS loans is that borrowers cannot, under any circumstances, add debt to an existing loan. CMBS loans are subject to oversight from the Securities and Exchange Commission and the Internal Revenue Service, meaning increased regulation and oversight. “CMBS loans are governed by an IRS vehicle called the REMIC, or real estate mortgage investment conduit, which allows every whole dollar from a borrower to pass through to bondholders without being taxed,” says Ann Hambly, founder and CEO of 1st Service Solutions, a firm specializing in CMBS borrower advocacy through loan restructures, assumptions, and equity and debt solutions. “The minute a performing loan is modified — by adding debt, for instance — the entire pool of bonds could become taxable.” Click to read more at www.ccim.com.