CMBS - All Articles

  • Legislators urge relief for battered CMBS market

    A group of lawmakers led by Texas Republican Van Taylor has sent a letter this week to secretary of the Treasury Steven Mnuchin and chairman of the Federal Reserve Jerome Powell, urging them to address the ‘looming crisis’ in the commercial real estate market, particularly for struggling borrowers saddled with CMBS debt.

    • 25 Jun 2020
  • Hussain defies court order to continue targeting BUMF deals

    Rizwan Hussain has claimed to be executive chairman of the issuing vehicles in legacy CMBS deals from the Business Mortgage Finance series, despite an order from a judge last July that attempted to stop his associates from representing themselves as officers or trustees of the deals.

    • 25 Jun 2020
  • Basel disappoints with failure to back EBA’s NPL plan

    The Basel Committee has proposed tweaks to its securitization rules to ease non-performing loan sales — but it hasn’t gone as far as market participants would like, and has rowed back from proposals tabled by the European Banking Authority last October, which would have cut capital requirements much further.

    • 24 Jun 2020
  • Thai corp injects £17.5m to shore up UK hotel CMBS

    Thai conglomerate DTGO Corporation has injected £17.5m ($21.72m) of equity for its hotel-backed Magenta CMBS in exchange for default waivers, propping up the deal for the next six months until the Covid-19 pandemic hopefully subsides.

    • 17 Jun 2020
  • Personal bankruptcy reforms could ease NPL sales

    Reforms to personal bankruptcy regimes in various countries along the lines of the US Chapter 13 code could improve non-performing loan (NPL) markets by boosting transparency and certainty, according to Charles Rusbasan, chief executive of Balbec Capital, which has just raised a new $1.2bn fund to buy NPLs where borrowers are subject to insolvency proceedings, restructuring or other forms of distress.

    • 10 Jun 2020