Latest news
Latest news
Last week EQT priced $985m of industrial paper to fund an acquisition
UK bank is selling a $548.27m issue
Deal refinances three banks' loans for $1.3bn acquisition
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Commercial mortgage-backed securities are performing better as the balance of CMBS continues to shrink, according to Moody’s Investors Service.
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Banks have been avoiding Standard & Poor’s as a source of commercial mortgage-backed securities ratings after Goldman Sachs and Citigroup pulled their $1.5 billion CMBS deal last July because S&P refused to rate the notes.
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A number of bids wanted in competition dominated by commercial mortgage-backed paper surfaced in Europe’s secondary market this week.
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Credit Suisse is arranger and sole bookrunner on a rare U.K. non-conforming residential mortgage-backed issue, Aggregator of Loans Backed by Assets (A.L.B.A.) 2012-1, which surfaced Tuesday morning.
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Morgan Stanley is said to be preparing to offer $1.1 billion in commercial mortgage-backed securities this week.
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Bank of America’s issuance of mortgage-backed securities backed by Ginnie Mae tumbled by nearly half in the fourth quarter compared with the preceding three-month period and was down 71% from a year earlier.
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Only 5% of underwater borrowers—an estimated 500,000 out of 25 million--would be eligible for principal reduction under the $25 billion settlement between the nation’s five largest lenders and government officials, according to the Brookings Institution.
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The Obama administration has expanded the Department of the Treasury’s Home Affordable Modification Program to include real estate investors.
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John Williams, president of the Federal Reserve Bank of San Francisco, says that if the U.S. economy needs additional stimulus, “restarting our program of purchasing mortgage-backed securities would probably be the best course of action.”