Latest news
Latest news
Blackstone is targeting a quicker than usual three day execution
Triple-As were priced at 170bp over Sofr, close to guidance
US market remains the model as template issuance takes shape
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Investor pools in European securitizations are slimming down as larger buyers increasingly scoop up bigger parcels of deals.
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Residential mortgage-backed securities rank first among structured-finance products downgraded in North America in the third quarter by Fitch Ratings but the number dropped sharply from the preceding three months.
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Mortgage market participants at an ABS East panel Tuesday bemoaned the sudden turn the market has taken against real estate investment trusts.
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A new mortgage plan being kicked around between big banks and regulators left ABS East attendees with plenty of questions.
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The largest loan securitized in Barclays Capital’s £894.5 million ($1.4 billion) Indus (Eclipse) 2007-1 deal reached maturity on Monday without being paid off, but industry officials are confident the securitization will not be affected.
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Panelists hotly debated principal reduction at the ABS East Alternative Loan Modification Programs for Distressed and Non-Performing Loans panel, with some saying reducing mortgages is the path to borrower success, and others countering that the mod makes for moral hazard and a hit for investors to absorb.
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Growth of the commercial mortgage-backed securities market was flat in the third quarter with little change though 2012, despite 18 months of recovery, according to Real Capital Analytics.
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Splitting the government-sponsored enterprises into old and new companies, with the “old cos” holding legacy mortgage loans backed by a government guarantee and the “new cos” originating loans without government backing, is the first step to giving the mortgage-backed securities market a fresh start, said James Lockhart, vice chairman at WL Ross & Co., in Monday’s keynote address at ABS East. -
Credit Suisse is planning on closing its commercial mortgage-backed securities unit.
