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CMBS

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  • Some special servicers are not reporting up-to-date financial data for many commercial mortgage-backed securities loans that have returned to current status from special servicing, according to Fitch Ratings.
  • In the days leading up to the rollout of the new Home Affordable Refinance Program, a crew of U.S. Federal Reserve Governors hinted at future quantitative easing and residential mortgage-backed securities buys, a move the market is taking seriously on the heels of Operation Twist’s surprise inclusion of agency mortgage bonds.
  • Moody’s Investors Service predicts that issuance of commercial mortgage-backed securities will slow over the next few quarters.
  • Lloyds Banking Group is returning to the public securitization market with a new issue from its U.K. residential mortgage-backed master trust shelf, Permanent.
  • A group of commercial mortgage-backed securities veterans in London have launched Goldstar Research, an online analytics program that aims to boost transparency and liquidity in the stalled European CMBS market.
  • Moody’s Investors Service says it finds signs that lenders are relaxing underwriting standards on commercial mortgages that will be packed into securities worrisome.
  • Barclays Capital has expanded its U.S. commercial mortgage-backed securities business with the hiring of John Trauben, Dan Vinson and Michael Birajiclian.
  • The changes to the Home Affordable Refinance Program that deal with which mortgages are eligible for refis might have a limited effect, but the extension of HARP until 2013 should encourage more servicers to offer HARP refis, according to Matt Jozoff, head of residential mortgage-backed security research at JPMorgan.
  • Eurohypo, the special servicer in the stalled Opera Finance (Uni-Invest) Dutch commercial mortgage-backed securitization set to mature in February, has shortlisted bidders for the assets and could seek noteholder input on any potential final deal.