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
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Structured finance software specialists Principia Partners is aiming to tackle the administrative requirements thrown up by the latest Basel recommendations with a new patch for its existing software.
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The New York Federal Reserve has received more than $2.1 billion of loan requests to purchase legacy commercial mortgage-backed securities in October’s subscription period for the Term Asset-Backed Lending Facility.
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The London-based International Accounting Standards Board said yesterday it will not be widening its scope to incorporate other financial assets, mortgage-backed securities or loans into its fair value rule.
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A number of commercial real estate investors and industry trade groups are lobbying the New York Federal Reserve to broaden the parameters of the Term Asset-Backed Securities Loan Facility to include mezzanine and junior AAA-rated commercial mortgage-backed securities.
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The AAA notes of the £490 million ($801 million) Epic (Industrious) securitization of U.K. commercial properties will lose about 25% of their value as a result of a sale of the underlying properties, the first time formerly AAA-rated European CMBS will suffer losses.
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Bids wanted in competition for European securitized products have come back in force, with more than 30 totalling £1 billion ($1.63 billion) last week and another 15 totalling £500 million ($815 million) this week.
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The CMBS downgrade onslaught continued this week with dozens of cuts across multiple jurisdictions.
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Goldman Sachs and JPMorgan are preparing to resume their conduit lending programs, with Goldman sending out a term sheet that spells out the parameters of the bank’s march back into the securitized lending market.
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The European Commission has informed state-backed banks to consult it before offering to buy back securitizations on their call dates and not to use government funds in those cases.