More Special Servicers Pinning Hopes On Hope Notes

Special servicers are more frequently using hope notes to work out troubled commercial mortgage-backed securities loans. Amherst Securities Group has calculated that there have been 120 hope notes structured since the 2008 recession began, which has led Darrell Wheeler, managing director at the New York-based fixed-income boutique, to question whether hope notes are the best way for special servicers to work out troubled loans.

  • 03 Feb 2012
Special servicers are more frequently using hope notes to work out troubled commercial mortgage-backed securities loans. Amherst Securities Group has calculated that there have been 120 hope notes structured since the 2008 recession began, which has led Darrell Wheeler, managing director at the New York-based ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 3,136 9 12.62
2 Citi 2,562 6 10.31
3 Goldman Sachs 2,150 3 8.65
4 Credit Suisse 1,822 6 7.33
5 Societe Generale 1,814 4 7.30

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  • Last updated
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1 Citi 41,255.30 117 12.99%
2 Bank of America Merrill Lynch 37,631.92 109 11.85%
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5 Credit Suisse 16,754.47 44 5.28%