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Mall of America hasn't paid its mortgage in two month

The biggest shopping mall in the country is two months in arrears on its mortgage. Wells Fargo is the servicer. This doesn't bode well for the health of the CMBS market that could portend a crash not unlike that in the residential home market in 2008.

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In its recent Financial Stability Report, the #Fed said, “The vulnerability stemming from elevated #CRE valuation pressures, coupled with a dim outlook for the sector as indicated by recent declines i

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