Commercial MBS

News

Most Banks Are Shrugging Off Regulators’ CRE Warnings

Bankers are defending the industry's aggressive push into commercial real estate despite regulators' warnings about the growing risk — and the potential for losses — in that sector.

S&P: Slow Start for U.S. Structured Finance Issuance

With only $16 billion in issuance in January, the market for new securitizations fell by $2 billion from December and is less than half of the new structured finance supply from January 2015.

Citigroup Readies $1B CMBS with Heavy Exposure to Offices

The deal, dubbed CGCMT 2016-GC36, will issue super senior notes rated triple-A by Kroll Bond Rating Agency and Fitch Ratings that benefit from credit enhancement of 30%; the so-called junior-A notes, which benefit from 25% credit enhancement, are also rated triple-A.

HUD to Cut FHA Multifamily Premiums to Boost Affordable Housing

The Department of Housing and Urban Development is reducing the mortgage insurance premiums it charges on Federal Housing Administration multifamily loans to encourage the renovation of affordable housing units and promote energy-efficient upgrades.

Credit Barbelling is Back in Latest Conduit from Wells Fargo

WFCM 2016-C32 is backed by 112 fixed-rate loans secured by 152 commercial properties; the inclusion of low-leverage cooperative loans offsets the impact of other loans with LTVs as high as 136%.

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Articles

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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Current Issue

Why Florida May Be the Next Big Source of PACE Bonds

Property Assessed Clean Energy loans have been available in Florida since 2010, but lending, as well as securitization of these loans, has lagged far behind California largely due to a series of lawsuits. A ruling by the Florida Supreme Court in October could change that.

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