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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Wall Street banks are said to be preparing to reduce their work force by 5% to 10% beginning as soon as September.
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Morningstar is on track to release its first ratings on residential mortgage-backed securities in the fourth quarter, according to Brian Grow, managing director. -
Knight Capital is looking to grow its home equity conversion mortgage-backed securities business, part of a strategy to aggressively pursue market share in the sector.
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Eurohypo, the special servicer on the troubled Opera Finance (Uni-Invest) Dutch commercial mortgage-backed securitization, is to hold an auction for the deal’s underlying portfolio.
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The latest version of Regulation AB II, the Securities and Exchange Commission’s massive asset backed securities reform, does not include a risk-retention requirement, since the agency considers Dodd-Frank rules adequate on skin-in-the-game concerns.
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The lull in European structured finance is expected to last another week before the market kicks back into action, according to syndicate desk heads in London.
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The short-selling ban on bank stocks in France, Belgium, Spain and Italy is not likely to have a direct impact on European securitizations, but that’s not stopping the sector’s paper from continuing to fall in what bankers are calling an “ugly” market environment.
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Deutsche Bank and UBS have priced a $1.7 billion commercial mortgage-backed securitization, with the 10-year, AAA-rated A4 bonds coming in 15 basis points from initial price talk.
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Securitization syndicate desks in Europe are said to be already sounding out buyers for potential new issues following the summer lull, but are being more cautious in their conversations with investors.
