Fitch Ratings could put 20 commercial mortgage securitizations under review for a possible downgrade if Congress fails to renew government-sponsored terrorism reinsurance.
The benchmark super senior, 10-year AAA' notes sold at a spread of 95 basis points over swaps, eight basis points wide of price guidance. The notes also priced wider than the last two deals to come to market this month.
The amount of commercial and multifamily mortgage debt outstanding rose to a record high in the third quarter, according to data from the Mortgage Bankers Association
George Kok is set to join Morgan Stanley as a managing director in the banks commercial real estate lending group.
If the Securities and Exchange bans Standard & Poors from rating commercial mortgage backed securities, as it is reportedly planning to, bonds backed by a single, large asset would be hit disproportionately, according to J.P. Morgan.
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
Unlike their existing risk-sharing programs, which have drawn $12.5 billion of private capital into the mortgage market by referencing $454 billion of mortgages since their July 2013 inception, some of the latest deals transfer the first loss sustained when a homeowner stops making payments.Current Issue