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CMBS

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  • Swedish mortgage provider Bluestep Finans has unveiled a new capital structure for its Swedish non-conforming mortgage securitization, which now has a senior euro denominated tranche to match investor interest.
  • Firstmac is looking to issue another Australian residential mortgage-backed securities deal only a few months after it sold a deal in June this year.
  • The Federal Reserve isn’t likely to begin tapering its quantitative easing program until at least mid-2014—and possibly much later, according to panelists on Monday’s opening session, entitled Weaning Off Federal Funds and the Subsequent Impact On Our Market.
  • The pipeline of new European collateralised loan obligations is building, but a lack of investors at the top of the capital structure and a scarcity of assets will drag on the pace of issuance, said market participants.
  • BNP Paribas hired former Cantor Fitzgerald agency collateralized mortgage obligation specialist Martin Priest.
  • ABN Amro is out with a new prime Dutch residential mortgage securitization, Dolphin Master Issuer Series 2013-2—the first public deal from its Dolphin program since 2011.
  • Macquarie Bank is arranging a AUD750 million ($707 million) residential mortgage securitization for Australian lender Members Equity Bank.
  • The possibility of a shutdown of the U.S. federal government and new concerns over the financial health of retailer JCPenney—the largest retail tenant in the commercial mortgage-backed securities universe—have stunted trading in the CMBS secondary mart and also caused a price drop in the CMBX.6 synthetic index.
  • Yorkshire Building Society priced the Brass No. 3 U.K. prime residential mortgage securitization on Friday afternoon, with solid demand driving the senior tranche spread tighter than indications earlier in the week.