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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.
  • A new mortgage plan being kicked around between big banks and regulators left ABS East attendees with plenty of questions.
  • 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.
  • 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.
  • 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.
  • 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.
  • ING Groep is considering entry into the European mortgage-backed securities market for the first time, according to Martin Nijboer, head of long-term funding at the Dutch bank.
  • Primary issuance of asset-backed securities in Europe could be set to take a breather until November, following the recent spike in new issue trades in the past two weeks.