Latest news
Latest news
Green securitizations have been prominent in CMBS this year
Rating cut as note pays more interest than planned
Inflation caused by war threatens budding recovery in commercial real estate
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Deutsche Bank has agreed to pay $32.5 million to settle a lawsuit brought by investors charging the bank misrepresented the quality of the loans underlying the mortgage-backed securities it sold.
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A new plan to restructure Eurohypo’s troubled Opera Finance (Uni-Invest) commercial mortgage securitization, involving an extension to the notes and an asset disposal program, is being pitched.
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Loan maturities in German commercial mortgage-backed securities are scheduled to nearly double from EUR 8 billion ($10.6 billion) this year to EUR14 billion ($18.5 billion) in 2012, sparking a rise in property sales out of the CMBS portfolios, according to Dirk Richolt, head of German real estate finance at CBRE.
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The potential sale of the largest loan in the £601.1 million ($956.3 million) Triton European Loan Conduit (EloC) 26 U.K. commercial mortgage-backed deal could see the securitized piece being paid off in full.
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Mike Mazzei, one of the founders of the commercial mortgage-backed securities market, has joined New York-based commercial real estate finance company Ladder Capital as president, REFI learned as it was going to press.
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The Immeo Residential Finance No. 2 German multifamily commercial mortgage securitization—one of the largest German CMBS deals of this type—is set to pay off in full on its interest next payment date, according to an announcement by the issuer.
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One of Germany’s largest multifamily housing CMBS deals has been successfully refinanced, allowing full prepayment of the €537.12m of outstanding bonds. The deal offers some hope that other CMBS deals can be similarly refinanced by large bank loans, but many CMBS practitioners believe this type of refinancing will prove to be rare.
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Analysts say that in the latest round of stress tests, the Federal Reserve gave better grades to two banks that received rescue funds through the government’s Troubled Asset Relief Program than they deserved by applying a different loan-loss ratio from the one used on other financial institutions.
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The delinquency rate index for U.S. credit cards fell 7 basis points to a record low 2.86% in February, while the charge-off index held steady from the preceding month, according to Moody’s Investors Service.