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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FICO is teaming up with CoreLogic to upgrade current mortgage credit-risk scoring services.
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The buyout at par on an $80 million mortgage on 980 Madison Avenue has given a boost to some bondholders with exposure to the property, one of 10 loans securitized at the height of the property bubble in the originally sized $1.8 billion commercial mortgage-backed securitization, Bear Stearns 2007-BBA8.
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Bondholders in Credit Suisse’s Titan Europe 2006-5 commercial mortgage-backed securitization have received a boost of roughly EUR180 million ($246.5 million) after properties underpinning one of its securitized loans were sold above valuation.
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Citigroup, without admitting or denying allegations, has agreed to pay $285 million to settle charges brought by the U.S. Securities and Exchange Commission that Citigroup Global Markets had misled investors in collateralized debt obligation tied to the U.S. housing market.
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A settlement between banks and state attorneys general over foreclosure practices could be announced by the end of the month.
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The delinquency rate of loans in U.S. commercial mortgage-backed securities rose to 9.36% in September, up from 9.01% in the preceding month, Moody’s Investors Service reports.
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U.K. AAA-rated prime residential mortgage-backed securities generated 0.30% returns in the third quarter, outflanking other assets except for government bonds, while other asset-backed securities indices in Europe fell, according to Henderson Global Investors.
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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.