CMSA Forms PAC

The Commercial Mortgage Securities Association has formed a federal political action committee to deal with issues affecting the commercial mortgage-backed securities industry on Capitol Hill."Since the inception of the CMBS market in the mid-1980's, the market has grown to over $540 billion in CMBS globally," said Dottie Cunningham, chief executive officer of the New York-based trade association. "Over the last several years there has been a steady increase in regulatory and legislative activity affecting the commercial real estate capital markets. The creation of a PAC will enhance CMSA's efforts to aggressively tackle these issues on Capitol Hill." Richard Jones, the CMSA's president, noted that the effort will enable the association "to be engaged at all levels on the issues of concern to the CMBS industry, such as the extension of the Terrorism Risk Insurance Act and the enactment of REMIC reforms." An advisory committee will direct the PAC's fundraising efforts and contributions to candidates for federal elected office, the CMSA said.