Latest news
Latest news
TwentyFour priced its Dutch prime RMBS refi, Blackstone its sterling logistics CMBS
Blackstone is aiming to execute its CMBS before the market shuts for Global ABS
Second large office CMBS in quick succession after The Soloviev Group sold a $1.7bn New York office CMBS last week
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The recent tender offers seen in Spanish and Portuguese residential mortgage-backed securities are not expected to spark off a major rally in peripheral market securitizations, according to London-based market officials.
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Europe’s residential mortgage-backed and asset-backed securities markets are seeing sustained secondary activity, with busy trading expected to carry over from last month well into February, according to secondary traders in London.
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Special servicers are more frequently using hope notes to work out troubled commercial mortgage-backed securities loans. Amherst Securities Group has calculated that there have been 120 hope notes structured since the 2008 recession began, which has led Darrell Wheeler, managing director at the New York-based fixed-income boutique, to question whether hope notes are the best way for special servicers to work out troubled loans.
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The performance of U.S. multifamily commercial mortgage-backed securities are distorted by loans on New York properties, according to Fitch Ratings.
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Standard & Poor’s shakeup of senior management has continued with the removal of managing Barbara Duka as head of commercial mortgage-backed securities.
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Lloyds Banking Group priced its Arkle 2012-1 U.K. prime residential mortgage-backed securitization late on Friday afternoon. -
The GL Whole Loan, securitized in Merrill Lynch’s Taurus CMBS (Pan-Europe) 2007-1 commercial mortgage-backed deal, has been given a three-month extension to allow the borrower to arrange full repayment of the debt.
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Only 27% of the five-year, floating-rate commercial real estate loans backing commercial mortgage-backed securities that came due in January got refinanced, causing the first wave of delinquencies for those loans, according to Trepp.
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The tightening spreads seen in Dutch lender Obvion’s recent Storm 2012-I residential mortgage-backed trade is a reflection of growing investor confidence in Dutch RMBS, according to Max Bronzwaer, head of treasury at Obvion.
