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CMBS

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  • Nationwide Building Society has returned to the market with a new issue of U.K. prime residential mortgage-backed securities from its Silverstone program.
  • Wells Fargo and RBS Securities are looking to sell nearly $791 million in publicly offered commercial mortgage-backed securities as well as $78.63 million in low-rated private securities this week.
  • The percentage of loans in commercial mortgage-backed securities paying off on their balloon date reached 61.6% in February, the second-highest reading since December 2008 and only the fourth time since then that it topped 50%, according to Trepp.
  • Natixis has priced the senior bond from Principal Residential Investment Mortgages 1, a novel securitization of Dutch non-conforming residential mortgages.
  • The delinquency rate of loans in U.S. commercial mortgage-backed securities slipped 2 basis points to 8.30% in February, there were increases in office, multifamily and industrial properties, according to Fitch Ratings.
  • Delinquencies of loans in U.S. multifamily commercial mortgage backed securities are still near record highs despite a solid recovery in the apartment sector, according to Standard & Poor’s.
  • Two more groups of issuers have set new commercial mortgage-backed securities deals, with a partnership between UBS, Barclays Capital and Archetype Mortgage Capital planning a $1.5 billion securitization for April and a venture between Goldman Sachs, Citigroup, Jefferies & Co. and Archetype Mortgage Capital planning a similarly sized deal in May, according to sister publication Real Estate Finance Intelligence.
  • BlackRock, which already acquired the non-investment grade bonds from a new conduit deal from Morgan Stanley and Bank of America, has reportedly struck a deal to buy the deal’s mezzanine tranches as well, according to REFI.
  • U.S. commercial mortgage-backed securities delinquency rates fell 15 basis points to 9.37% in February, according to Trepp, LLC.