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  • San Bernardino, Calif., may not issue a request for proposals to evaluate the controversial application of eminent domain that would allow the county to pluck underwater mortgages from their securitized pools until mid-September, Gregory Devereaux, San Bernardino’s chief executive, told SI, last week.
  • U.K. prime residential mortgage-backed securities could enjoy a further rally as the market kicks back into action after the summer, London-based securitization analysts said Friday.
  • A BWIC stocked with four commercial mortgage-backed securities bonds emerged this week, but only one successfully sold, as investors spurned mark-to-market risk amidst scant ABS trading activity.
  • U.K. property investor Redefine International, sponsor of the Government Income Portfolio loan securitized in the Windermere XI U.K. commercial mortgage-backed deal, is proposing a far-reaching restructuring and extension of the loan.
  • London-based officials expect the dearth of primary issuance to continue until late August, but they remain confident that new deals will surface before the month is out and be priced in the first week of September.
  • The Hugo loan, securitized in Credit Suisse’s EUR1.32 billion ($1.63 billion) Cornerstone Titan 2007-1 pan-European commercial mortgage-backed trade, has been handed a further extension until October after it was partially repaid last month.
  • Nonconforming U.K. residential mortgage-backed securities would largely be able to withstand severe stress scenarios that include all-time high unemployment, according to research from Barclays.
  • Fitch Ratings lowered its forecast for 2012 structured finance output in Europe, the Middle East and Africa by EUR75 billion ($93.19 billion).
  • Standard & Poor’s has revised the criteria it uses for rating commercial mortgage-backed securities that may result in higher ratings as it works to regain a foothold in the CMBS market.