glasses malone took asher’s college song and made it ghetto.

gotta find out who did the production — because that beat it hot.

i expect some fresh mash-ups for the summer.

i love dollars, i love franklins …

may day is lei day in hawai’i

Roughly two-thirds, or $410 billion of the securitized commercial mortgages that mature through 2018 will not be able to fully refinance, according to analysis by Deutsche Bank.

That will result in losses of a combined $44 billion to $49 billion, or 6.5 percent to 7.2 percent of the CMBS universe’s outstanding balance.

The loans won’t be able to refinance fully because their collateral values will have fallen, sometimes substantially, leaving an equity gap or deficiency. In some cases, Deutsche found that the equity deficiency would be “enormous.” It predicted that the average equity deficiency would be 15.1 percent for all loans that are maturing through 2018. And that’s even before any subordinate or mezzanine debt is taken into account.

Deutsche estimates that commercial property prices have already fallen by 25 percent to 30 percent from their 2007 peaks, and expects they could fall up to another 20 percent as a result of fundamental changes - or a reversion to historical norms - in how investors value properties and lenders provide financing.

The investment bank assumed that lenders providing loans for refinancings would provide only up to 70 percent leverage and would require debt-service coverage of at least 1.3x.

The volume of securitized loans that would be unable to refinance fully might just be the tip of the iceberg.

Banks and life insurers, which together hold some 70 percent of the $3.4 trillion commercial real estate loan market, will also likely face headaches as loans they hold mature. Deutsche said when those loans are added, the volume of mortgages maturing in the coming five to seven years that “will face formidable refinancing problems could be well in excess of $1 trillion.”