Latest news
Latest news
US market remains the model as template issuance takes shape
Deal is backed by three data centers in Virginia, Illinois and Atlanta
Tightest CMBS print in nearly a year ahead of Yondr data centre ABS debut
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A war of words between CMBS special servicers Mount Street and its larger rival, Hatfield Philips International, broke out this week, in a fight that illustrates just how challenging it is for CMBS investors to exercise their rights.
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Deutsche Bank has begun marketing the first public multi-loan CMBS transaction since 2007 as CMBS spreads hit post-crisis tights. More European CMBS is in the pipeline but some bankers are warning a market revival could be curtailed by an aggressive loan market. -
David Singelyn, CEO of American Homes 4 Rent, has questioned the validity of rumours that Blackstone's Invitation Homes may issue a $1bn securitization tied to rental properties. His comments came in the same week American Homes 4 Rent launched its debut single-family rental securitization tighter than price guidance in every offered tranche.
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Bank of America Merrill Lynch has grabbed a director from Citigroup to join its commercial real estate structured finance group.
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Bayview Financial has pulled from the market its $185m securitization of subprime residential mortgages, following Fitch Ratings’ public rebuke of Standard & Poor’s preliminary triple-A ratings.
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Moody’s has placed nearly £4bn of CMBS credit-tenant-linked notes issued by Tesco plc on review for downgrade. The rating agency placed the UK supermarket group’s senior unsecured rating on review for downgrade earlier this week as rivals continue to eat into its market share and profits.
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Bayview Financial will have four times more skin in the game in its latest re-performing mortgage loan securitization than credit risk retention rules would require, holding a nearly 20% stake in the $215m deal. But some firms aren’t sure if the higher yield the deal offers is worth the call risk on the unusually long-dated notes, which pay pro-rata — even as the US non-agency RMBS market suffers from low issuance volumes.
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Moody’s has placed nearly £4bn of CMBS credit-tenant-linked notes issued by Tesco plc on review for downgrade. The rating agency placed the UK supermarket group’s senior unsecured rating on review for downgrade earlier this week as rivals continue to eat into its market share and profits.
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Bayview Financial, which issued eight deals last year, is preparing to sell an unusually long-dated securitization of re-performing residential loans, the market's first issuance with that kind of collateral since July 2013. The deal comes as market participants anticipate a surge in RPL and non-performing loan securitizations later this year.
