Commercial MBS

News

Fitch May Downgrade 20 CMBS if Terrorism Insurance Lapses

Fitch Ratings could put 20 commercial mortgage securitizations under review for a possible downgrade if Congress fails to renew government-sponsored terrorism reinsurance.

Credit Suisse, JP Morgan and Barclays Price CMBS

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.

Commercial, Multifamily Mortgage Debt Rises to a Record-High $2.59 Trillion

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 Joins Morgan Stanley CMBS Team

George Kok is set to join Morgan Stanley as a managing director in the bank’s commercial real estate lending group.

S&P Ban Would Hit Single-Asset CMBS Hardest

If the Securities and Exchange bans Standard & Poor’s 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.

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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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In the news: How Ability-to-Repay Rules Could Reshape RMBS Market

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Current Issue

Fannie Mae Exploring New Ways to Transfer Risk to Private Sector

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.

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