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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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Industry players are calling on Standard & Poor’s to supply the commercial mortgage-backed securities market with more information on how it plans to rate and monitor the sector.
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Kamala Harris, the attorney general of California, is said to have subpoenaed Citigroup to provide information regarding the sale and marketing of mortgage-backed securities in the state by the bank and its Citibank subsidiary.
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Delinquent loans in U.S. commercial mortgage-backed securities rose 37 basis points to 9.01% in July, breaking the record 8.8% set in May, according to Fitch Ratings.
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Agency residential mortgage-backed securities yields ticked up 15 basis points Friday morning, amid ultra-low Treasury yields and a historic crash in equities Thursday.
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Deutsche Bank and UBS are planning to launch DBUBS 2011-LC3, an approximately $1.5 billion commercial mortgage securitization.
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BlackRock Advisors should seek out a single, top-tier buyer to take on the residual $20 billion in legacy American International Group collateral held by the Federal Reserve Bank of New York’s Maiden Lane II portfolio, according to two portfolio managers.
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Goldman Sachs is said to be compensating investors for losses they suffered after the investment bank withdrew a $1.5 billion commercial mortgage-backed securities deal because Standard & Poor’s would not issue a final rating on it.
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U.K. lender Principality Building Society has priced its first residential mortgage-backed securitization, Friar No. 1, a £686 million ($1.12 billion) transaction.
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Losses in legacy European commercial mortgage-backed bonds are expected to reach EUR8.6 billion ($12.2 billion) over the next five years, but the impact on residential mortgage-backed securities and consumer loan asset-backed securities should remain low, Fitch Ratings analysts told SI.