Risky mortgage lending may have triggered the financial crisis, but final risk retention rules go much easier on mortgages than securitizations of other kinds of assets.
ReadyCap has completed its first securitization of small balance commercial mortgage loans and Colony Financial is marketing $220 million of senior securities backed by the asset class.
The largest loan, which accounts for 9.5% of the pool, is backed by St. Johns Town Center, a 1.4 million sf outdoor regional mall located in Jacksonville, Florida.
The Federal Deposit Insurance Corp. approved a final rule at its morning meeting that will require lenders to retain at least a 5% stake in loans they securitize unless they meet the definition of "qualified residential mortgages."
A deal backed by a commercial loan to Frank Gehry's striking 'New York' building is in the market. Located at 8 Spruce Street in downtown Manhattan, luxury complex stands out in the neighborhood for its soaring height and rumpled facade.
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
Single-family rental giants are financing smaller players, setting the stage for a new wave of issuance.Current Issue