Latest news
Latest news
Rating cut as note pays more interest than planned
Inflation caused by war threatens budding recovery in commercial real estate
The rise of the European master trust and the CLO market nears shut down
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Australian mortgage provider Pepper Home Loans has followed a non-conforming residential mortgage-backed securitization it priced in April with an AUD500 million ($449 million) securitization of prime residential mortgages that it acquired from GE Capital Australasia two years ago.
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The Debussy CMBS from Toys R Us showed that bank arrangers are not irreplaceable. Investors are taking a more hands-on role in structuring. This should be welcomed if it gives them the confidence to buy riskier deals.
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Surrey-based mortgage investor Mars Capital is hoping its recent debut in the U.K. non-conforming residential mortgage market will get market players revisiting RMBS as a funding tool, but Managing Director Matt Gilmour said leaning too heavily on capital markets funding is still a tough proposition in the current market.
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Dutch firm F Van Lanschot has retained a EUR854 million ($1.13 million) securitization of prime Dutch residential mortgage loans known as Courtine RMBS 2013-I.
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Richmond, Calif., has given 32 servicers and trustees of residential mortgage-backed securitizations an Aug. 13 deadline to respond to its offer to buy 626 underwater mortgages out of private-label securities. -
Collateralized loan obligations are gaining back some of their relative-value shine as spreads on new-issue deals resist the tightening being seen in commercial mortgage-backed securities.
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Cerberus Capital Management has hired Daniel Choquette as managing director with the firm’s mortgage-backed securities group.
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Spreads tightened sharply in the new-issue market for commercial mortgage-backed securities on Thursday, with the benchmark triple-A bonds from a new conduit hitting 100 basis points over swaps—15bps tighter than the most recent deal.
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The investor-led arranging of Debussy DTC CMBS, a securitization backed by a Toys R US portfolio of 31 UK warehouses and stores, is a model that increasingly proactive bondholders are using to gain exposure to commercial real estate debt under bespoke terms, according to Graham Penn, partner at Sidley Austin.
