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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The originally EUR449.6 million ($615.27 million) Taurus (Pan-Europe) 2006-3 commercial mortgage-backed securities trade will see a EUR20,168.41 ($27,600.41) shortfall this month.
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Another clutch of loans backing CMBS deals went into special servicing this week after failing to repay at their maturity dates, capping off a January packed with potential defaults. Other borrowers await the outcome of restructuring proposals, for which acceptance could trigger sharp spread tightening.
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Four deals under Standard Bank of South Africa’s Blue Granite Investments residential mortgage-backed securities program will not see their ratings affected by recent changes to the account bank and swap counterparty ratings triggers, Moody’s Investors Service analysts said.
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Surging bids on U.K. non-conforming residential mortgage-backed securities are raising eyebrows in the secondary markets, according to London-based bankers on the frontline.
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Secondary trading in European securitization markets has been flat this week, traders told SI Wednesday.
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Capita Asset Services has extended the maturity date on the Bulgaria Loan in Deco 14 – Pan Europe 5 to 2015 after deciding a consensual sale or refinancing of the loan was still possible.
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ABN Amro plans to redeem four classes of notes from its Fishbowl and Goldfish Dutch residential mortgage-backed deals next month.
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With the U.K.’s primary residential mortgage securitization market still dormant almost a month into 2013, market players in London are forecasting much smaller-sized offerings once the U.K. lenders do return to market.
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Market players looking under the hood of the REO-to-rental market say discussions have progressed further than expected in the last 12 months.