Latest news
Latest news
Agar previously worked at Guggenheim Securities
Creafin restarts the Belgian RMBS market, and CLO tiering has not yet materialized
Deals fully backed by multifamily assets are in vogue
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U.K. and Dutch residential mortgage-backed securities may be the only RMBS bonds eligible as collateral in the amended Basel III bank liquidity buffers
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Northwood has beaten off competition from Cheney, Kennedy Wilson, Texas Pacific Group and other bidders to acquire the junior loan in Eurohypo’s Opera Finance CMH, a CMBS backed by Irish real estate. The purchase gives the company a say in any debt restructuring plans.
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Private equity company Lone Star, the main junior noteholder in Windermere XIV, will have a second attempt at removing Hatfield Philips as special servicer on the transaction at a noteholder meeting in London this Friday. If successful, Lone Star will install its own servicing affiliate, Hudson Advisors, giving it an advantage in any workout negotiations.
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Mill Valley, Calif.-based Redwood Trust is off the bench early in 2013 with its first residential mortgage-backed securitization deal of the year: the $397.88 million Sequoia Mortgage Trust 2013-1.
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Secondary trading of residential mortgage-backed securities is described as “quiet but positive,” as a small bids-wanted-in-competition list comprising U.K. residential mortgage securitization surfaced Tuesday lunchtime.
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Friesland Bank’s Stichting Eleven Cities No. 8 Dutch prime residential mortgage-backed notes were not redeemed last month, despite the issuer’s intention to buy back all outstanding bonds on December’s payment date.
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Noteholders in the Epic (Brodie) synthetic CMBS are set to receive a €74m reference obligation prepayment, after the sale of three properties.
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Morgan Stanley and Bank of America are in the market with the first conduit commercial mortgage-backed securities deal of 2013, with price whispers coming in at 75 basis points over swaps for the benchmark class of AAA-rated bonds.
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Prepayment speeds in Bank of America Home Affordable Refinance Program-eligible pools are poised to accelerate on the bank’s sale of $300 billion of residential mortgage servicing rights to Nationstar Mortgage and Walter Investment, according to Scott Buchta, head of fixed income strategy at Brean Capital.