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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Market bellwether Granite, Northern Rock’s residential mortgage-backed vehicle, has seen prices drop across its capital structure in recent days as securitization officials in London seeing a “flight to quality” amid new market jitters.
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Paul Jablansky, former senior non-agency mortgage-backed securities and consumer asset-backed securities strategist at the Royal Bank of Scotland, has jumped to Western Asset Management, where he’ll serve as co-head of the mortgage investment team.
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The delinquency rate of loans in U.S. commercial mortgage-backed securities surged to a record 9.88% in July, according to Trepp. The data firm reported the 51 basis point increase as the largest monthly rise of the year.
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Fannie Mae is reducing the size of its mortgage securitization but at a slower pace.
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Russell Investment Management Company is rolling out a new exchange traded fund to invest at least 80% of its value in fixed-income assets, with a particular focus on mortgage bonds, according to the prospectus filed with the U.S. Securities and Exchange Commission.
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Senior tranches of European commercial mortgage-backed securities have seen strong performance this year, with secondary spreads rallying 85 bps on AAAs compared to a year ago.
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The average loss severity on conduit loans in U.S. commercial mortgage-backed securities fell to 40.2% last month, from 46.4% in July, according to Trepp.
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Most defaults in European structured finance stem from collateral issues, not problems with counterparties, according to research by the Royal Bank of Scotland.
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Fitch Ratings reports that its European CMBS Maturity Repayment Index fell from 40.4% to 34.6% in July as a result of the low repayment rate of loans that matured during the month.