CMBS

  • Demand for CMBS aid grows on Capitol Hill

    Demand for CMBS aid grows on Capitol Hill

    The US commercial mortgage backed securities (CMBS) market has lacked the kind of extensive government support that other asset classes have received, though data shows it is experiencing difficulties. But some are optimistic that the US government will provide aid for the market in its next round of Covid-19 relief measures.

  • Corona crisis plunges UK university assets into uncertainty

    Corona crisis plunges UK university assets into uncertainty

    UK universities face financial peril. Having been shuttered due to the coronavirus pandemic, some risk going bust, according to the Institute for Fiscal Studies (IFS). Meanwhile, as accommodation operators grant refunds to students who are locked out and locked down, CMBS deals backed by student accommodation may survive, if sufficient numbers return to residences when the next academic year begins. Silas Brown and Tom Brown report.

  • Thompson & Knight adds trio of MBS attorneys

    Thompson & Knight adds trio of MBS attorneys

    Thompson & Knight has hired three litigation attorneys, Keith Brandofino, Maximiliano Rinaldi and David Mignardi, to bolster the commercial real estate and loan servicing business in the firm’s New York office. All three attorneys join from Kilpatrick Townsend.

  • UK university halls CMBS payments deferred after student refund

    UK university halls CMBS payments deferred after student refund

    Noteholder payments have been deferred in a tranche of UK CMBS backed by university halls of residence after the accommodation operator refunded student’s their rent, putting the loan sponsor in the position of having to speculate on demand recovery following the coronavirus outbreak which saw universities shuttered.

  • Legislators urge relief for battered CMBS market

    Legislators urge relief for battered CMBS market

    A group of lawmakers led by Texas Republican Van Taylor has sent a letter this week to secretary of the Treasury Steven Mnuchin and chairman of the Federal Reserve Jerome Powell, urging them to address the ‘looming crisis’ in the commercial real estate market, particularly for struggling borrowers saddled with CMBS debt.

  • Basel disappoints with failure to back EBA’s NPL plan

    Basel disappoints with failure to back EBA’s NPL plan

    The Basel Committee has proposed tweaks to its securitization rules to ease non-performing loan sales — but it hasn’t gone as far as market participants would like, and has rowed back from proposals tabled by the European Banking Authority last October, which would have cut capital requirements much further.

  • Thai corp injects £17.5m to shore up UK hotel CMBS

    Thai corp injects £17.5m to shore up UK hotel CMBS

    Thai conglomerate DTGO Corporation has injected £17.5m ($21.72m) of equity for its hotel-backed Magenta CMBS in exchange for default waivers, propping up the deal for the next six months until the Covid-19 pandemic hopefully subsides.

  • Personal bankruptcy reforms could ease NPL sales

    Personal bankruptcy reforms could ease NPL sales

    Reforms to personal bankruptcy regimes in various countries along the lines of the US Chapter 13 code could improve non-performing loan (NPL) markets by boosting transparency and certainty, according to Charles Rusbasan, chief executive of Balbec Capital, which has just raised a new $1.2bn fund to buy NPLs where borrowers are subject to insolvency proceedings, restructuring or other forms of distress.

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