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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Covered bonds could stand to gain at securitization’s expense if the sustained uncertainty surrounding Solvency II capital charges remain unresolved, London-based officials said this week.
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Dutch industry-wide scheme Stichting Pensioenfonds ABP has reached an out-of-court agreement with JPMorgan Chase to settle claims regarding sales of residential mortgage-backed securities, according to sister publication iiSearches.
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Longtime securitization industry vet Greg Reiter has joined Wells Fargo Securities as the investment bank’s new head of residential mortgage research.
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Your weekly roundup of securitization sectors with year-to-date totals in ABS, CMBS, RMBS and CLOs in the U.S. and Europe. -
Russian lender Nomos Bank is preparing to come to market with its first ever securitization of Russian residential mortgages.
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European securitization is facing diminished issuance volumes next year, with deal flow set to be squeezed by a combo of sustained regulatory uncertainty, a dearth of eligible underlying loans, and the use of covered bonds as repo collateral in the region, analysts at Moody’s Investors Service said Monday.
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The Coconut loan, one of the loans securitized in the EUR1.076 billion ($1.39 billion) Talisman-6 Finance commercial mortgage-backed trade, has been given a further standstill extension until January to allow for the completion of the workout strategy.
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The struggle to find yield next year could force ABS investors towards riskier parts of the market, including CMBS, Bank of America Merrill Lynch analysts said this week. German multi-family CMBS, with its granular pools of residential occupiers, could be the easiest entry point for newcomers used to buying RMBS, they said.
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JPMorgan has priced JPMCC 2012-PHH, a $175 million single asset transaction backed by the loan on the Palmer House Hilton in Chicago, as the new issue pipeline remains crowded into the last stretch of 2012, according to sister publication Real Estate Finance Intelligence.
