The company sold approximately $312 million of certificates with a blended effective interest rate of LIBOR plus 1.92%; it did not indicate how each tranche priced.
Morgan Stanley and Bank of America Merrill Lynch priced $911 million of bond backed by 67 mortgage loans on 72 multifamily and commercial real estate properties.
JP Morgan Chase and Barclays plan to issue $1.12 billion of commercial mortgage backed securities via the JPMBB Commercial Mortgage Securities Trust.
The collateral for the $675 million deal, BAMLL Commercial Mortgage Securities Trust 2014-520M, consists of a first lien mortgage loan, which is secured by the borrowers fee simple interest in 520 Madison Ave in Midtown Manhattan.
Deutsche Bank's latest CMBS securitization trust will offer investors securities that are backed by a loan secured by a single loan. The CMBS will also include notes that are backed by a pool of three loans, secured by 17 properties.
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, its not clear exactly what the Commission will do.
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.
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.
DFG Taps Goldman Vet, Barclays Bulks Up on CMBS, Ares Adds Jeffrey Kramer and the ASF Retains Mike Williams as Policy Adviser
Could higher yields end up deepening the investor base for asset-backeds?
Vice President of Regulatory Compliance
Firm: Clayton Holdings
In the news: How Ability-to-Repay Rules Could Reshape RMBS Market
Securitization of very large commercial mortgages is picking up again, and so is the leverage in some of these deals.Current Issue