Commercial MBS


Unsolicited Ratings Encouraged More in Theory than in Practice

Which opinion is more reliable: A well-informed one tainted by financial arrangements or one free of such conflicts but based on limited data — and possibly colored by spite?

ReadyCap Readies $96M Small Balance Loan CMBS

ReadyCap Commercial plans to issue a securitization of its small balance commercial mortgage loans, according to a DBRS presale report.

PCS Brand Tops €100B Deals In Shrinking Market

The volume of European asset-backed tranches with the Prime Collateralised Securities (PCS) label has crossed the €100B threshold but the region's securitization volumes keep shrinking.

CMBS Investors Skittish on Regional Mall Exposure

Another rash of Sears and affiliate Kmart closings are planned, at least six of which will impact existing CMBS deals, either directly because the stores are a part of collateral backing the deals, or indirectly because the closures will damp mall business.

Walker & Dunlop Expands CMBS Joint Venture with 3 Originators

Commercial real estate lender Walker & Dunlop has expanded its recently added three originators to its conduit and high yield lending joint venture with Fortress Investment Group.



Reg AB II Returns from Limbo

Regulation AB governs registration, reporting and disclosure requirements for all things asset-backed. The Securities and Exchange Commission appears to be ready to update it significantly, but, nearly four years after changes were originally proposed, it’s not clear exactly what the Commission will do.

Finra Files Proposal to Disseminate Price Data

The proposal would introduce dissemination of trade prices for securities ranging from highly liquid credit card and auto ABS to smaller and more esoteric deals in asset classes such as time shares, to commercial mortgage-backed securities (CMBS) and highly structured CDOs and collateralized loan obligations.

Editor's Letter

As July came to a close, it was clear to everyone at ASR that the structured finance market was not about to take a vacation.

People on the Move

DFG Taps Goldman Vet, Barclays Bulks Up on CMBS, Ares Adds Jeffrey Kramer and the ASF Retains Mike Williams as Policy Adviser

Silver Lining

Could higher yields end up deepening the investor base for asset-backeds?


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Single-Family Rental Giants Branch Out

Single-family rental giants are financing smaller players, setting the stage for a new wave of issuance.

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