Latest news
Latest news
Two deals in two months as activity returns for the first time since the Iran war began
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
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Assured Guaranty is trying to drum up investor interest in a project finance securitization it is both originating and wrapping.
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About €54.4 billion ($76.79 billion) of loans backing Europe’s commercial mortgage-backed securities will need refinancing between 2011 and 2014, according to Bank of America Merrill Lynch research.
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The European Investment Bank, the Luxembourg-based long-term lending arm of the European Union, is rapidly expanding its structured finance capabilities, according Luis Garrido, head of staffing.
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A loan backing the €1.5 billion ($2.14 billion) commercial mortgage securitization Windermere X is to go into special servicing after it missed December payment, according to a London-based researcher.
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Winthrop Realty Trust is leading a group of senior mezzanine debt holders to foreclose on Peter Cooper/Stuyvesant Town, a sprawling apartment complex in Manhattan's East Village.
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Co-Lender Agreements typically provide that any amounts due and payable to the master servicer or special servicer under the Pooling and Servicing Agreement of a CMBS deal with respect to the A/B loan are paid from collections on the A/B loan before the noteholders are entitled to receive payment.
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Some 30% of Moody’s ABS downgrades in 2009 resulted from methodology changes, the agency revealed this week. Weak collateral performance drove 76% of the 458 RMBS downgrades last year but only 44% in ABS, thanks to a reworking of the agency’s SME loan methodology affecting 163 tranches. The next largest factor in downgrades was counterparty risk, which was the main reason for 9% of downgrades in RMBS and 16% in ABS.
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London-based financial boutique AgFe has expanded its securitization division with three hires and the acquisition of commercial real estate debt management company Burfield Capital Partners.
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The American Securitization Forum has asked the Federal Deposit Insurance Corp to delay implementing its stringent new standards for securitisations to qualify for safe harbour protection in an originator’s insolvency. In December the FDIC published a sample regulatory text which suggested rules that might be used to determine whether bank securitisations would be eligible for safe harbour from clawback. The accompanying advance notice of proposed rulemaking said that the standards chosen would apply to new deals from the end of March 2010.