Despite the cloud of FAS 140 lingering over the CMBS market, the dilemma is not expected to effectively stop new issuance, sources say.

The market is eagerly anticipating the results of last Monday's meeting between FASB and representatives of the commercial real estate markets. Though FASB has not given a specific time frame, market players are saying that the best-case scenario would be a resolution after two weeks while a worst-case scenario would mean getting a response just before the Q&A on FAS 140 is published in June.

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