With the pricing of three issues over the past week, the commercial mortgage market has found itself languishing in light secondary flows.

The widely anticipated March blast of underwriting remains just a promise, with nothing in the premarketing stages just yet and ongoing concerns about insurance reform and growing delinquency hindering business. The latter issues are easily mitigated through diversification offered by larger conduits as well as adequate credit enhancement, but even those issues are slow to come out of the blocks.

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