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  • The U.S. government reached a $25 billion settlement with the nation’s five largest mortgage loan servicers to provide relief to homeowners struggling with their mortgages, as well as payments to the federal and participating state governments.
  • Loans in commercial mortgage-backed securities in Europe will continue to perform poorly this year, according to Moody’s Investors Service.
  • Cincinnati-based commercial-real estate manager Phillips Edison has announced that its Strategic Investment Fund I has closed two commercial mortgage-backed securities loans totaling $94.5 million.
  • The Federal Reserve Bank of New York today announced that it has sold $6.2 billion in legacy American International Group assets from its Maiden Lane II portfolio at auction to Goldman Sachs.
  • The trend of special servicers favoring workouts for loans in European commercial mortgage-backed securities instead of granting extensions is expected to continue, according to Fitch Ratings.
  • Center Parcs UK, the holiday resort group, is marketing a new whole business securitisation this week, roadshowing in London and Edinburgh for a three tranche sterling deal.
  • Dallas-based law firm Thompson & Knight is bringing on at least two Crowell & Moring attorneys and is in talks to bring a handful of other Crowell attorneys to its New York office, according to people familiar with the matter.
  • Deutsche Bank is marketing a £210 million DECO 2012-MHLL deal, only the second commercial mortgage securitization the European market has seen since 2007.
  • Bank of America Merrill Lynch and Deutsche Bank are planning a $500 million commercial mortgage-backed securities offer to refinance a portfolio of OSI Restaurant Partners.