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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Paper from the carved out banks holding distressed assets has fuelled trading in Europe’s secondary asset-backed securities sector, with bids-wanted-in- competition climbing to €392 million ($560 million) last week, the largest volume this year, according to traders and Citigroup data.
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Primary market activity in European structured finance is whirring back to action, with a handful of deals expected to price in the next few weeks.
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Delinquencies of loans in U.S. commercial mortgage-backed securities inched up just 1 basis point in April to 8.75%, as loan resolutions basically canceled out increases in late payments, according to Fitch Ratings.
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Federal regulators appeared to be split over how much to disclose of the criteria they plan to use to determine which nonbank financial firms are considered systemically important, and therefore subject to tougher capital standards and regulations.
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The Department of Justice’s civil lawsuit against Deutsche Bank and its MortgageIT subsidiary is expected to be the first of a wave of litigation as U.S. authorities step up efforts to reclaim losses from questionable collateral and the toxic securitizations, according to market participants.
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A loan in the €1.08 billion ($1.56 billion) Talisman 6 German commercial mortgage-backed securitization has been placed into special servicing after a breach in its outstanding loan-to-value covenant sparked an event of default.
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The Federal Deposit Insurance Corporation has sold notes worth $353.2m, backed by $394.3m of commercial mortgages, through FDIC 2011-C1. This is the first time FDIC has securitised commercial mortgages since the financial crisis, and represents a new attempt to dispose of failed bank assets.
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Torchlight Investors is preparing to buy the non-investment grade tranche of an upcoming $1.5 billion commercial mortgage-backed securities deal from JPMorgan, its first b-piece acquisition.
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Credit Suisse has named Roger Lehman managing director and head of commercial mortgage-backed securities research.