{"podcast":{"title":"InsuranceAUM.com","slug":"insuranceaum-com-113748","podcast_index_feed_id":113748,"rss_url":"https://feed.podbean.com/insuranceaumjournal/feed.xml","website_url":"https://insuranceaum.com/","image_url":"https://pbcdn1.podbean.com/imglogo/image-logo/7233232/Apple-Channel-Podcast-Cover-Final.png","author":"InsuranceAUM.com","episode_count":100,"summary":"Tune in to the InsuranceAUM.com Podcast, hosted by our Founder and Senior Advisor, Stewart Foley, CFA. Our podcast features insightful conversations with CIOs, asset managers, and other distinguished professionals in the insurance asset management industry. Each episode delves into the latest trends, challenges, and opportunities, providing listeners with valuable perspectives and practical advice. Don’t miss out on these engaging discussions that are essential for insurance investors and asset managers.","last_synced_at":"2026-07-16T04:19:50.138266+00:00","page_url":"https://stenobird.com/podcast/insuranceaum-com-113748"},"episode":{"title":"Episode 367: Relative Value That Hasn’t Compressed: Why Commercial Mortgages Still Stand Out","slug":"episode-367-relative-value-that-hasn-t-compressed-why-commercial-mortgages-still-stand-out","published_at":"2026-05-19T05:03:00+00:00","page_url":"https://stenobird.com/podcast/insuranceaum-com-113748/episode-367-relative-value-that-hasn-t-compressed-why-commercial-mortgages-still-stand-out","show_page_url":"https://stenobird.com/podcast/insuranceaum-com-113748","url":"https://insuranceaumjournal.podbean.com/e/367-relative-value-that-hasn-t-compressed-why-commercial-mortgages-still-stand-out/","audio_url":"https://mcdn.podbean.com/mf/web/gq7vat4waawjpz4a/IAP_-_0501_Voya_Audio_v299g1u.mp3","summary":"Greg Michaud, Head of Real Estate Finance, and Stefanie Stewart, Head of Real Estate Investments at Voya Investment Management, join Stewart Foley, CFA, to explore why commercial mortgages continue to stand out within fixed income markets despite significant changes across the broader investment landscape. They discuss how relative value opportunities remain attractive, even as spreads in many other asset classes have tightened. The conversation examines today's commercial real estate lending environment, including property valuations, underwriting discipline, and the impact of interest rates on lending activity. Greg and Stefanie explain how market conditions have shifted from previous cycles and why stable underwriting standards and realistic borrower expectations are contributing to stronger lending vintages. They also break down differences across core, bridge, and construction lending strategies, discuss where investors are finding compelling opportunities outside of crowded sectors, and share perspectives on portfolio construction, risk selection, and long-term investment partnerships for insurers.","meta_description":"Greg Michaud, Head of Real Estate Finance, and Stefanie Stewart, Head of Real Estate Investments at Voya Investment Management, join Stewart Foley, CFA, t…","key_points":[],"chapters":[],"topics":[],"duration_seconds":2462,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/insuranceaum-com-113748/episodes/episode-367-relative-value-that-hasn-t-compressed-why-commercial-mortgages-still-stand-out/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/insuranceaum-com-113748/episode-367-relative-value-that-hasn-t-compressed-why-commercial-mortgages-still-stand-out.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}