NEW YORK - Though the commercial mortgage-backed securities sector is currently on the upswing - with more than 10 deals in the pipeline for the rest of June and several more slated for July - last week's Commercial Mortgage Securities Association sixth annual convention in New York reiterated the significant slowdown in originations that has befallen the market, an occurrence that may cause more industry shakeup going forward.

"What's becoming clear is that you have to have an origination force in the market," said one attendee at the CMSA meeting. "You just can't be an agent; you have to have a critical mass of people dedicated to originating loans to be a long-term factor in the market, but you can't have 200 people doing it either."

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