Latest news
Latest news
Blackstone priced its social housing CMBS while Yondr debuted in data centre ABS
Blackstone is targeting a quicker than usual three day execution
Triple-As were priced at 170bp over Sofr, close to guidance
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The primary market for U.K.’s residential mortgage-backed securities is set to swell with deals over the course of the year, as more first-time and return issuers look to tap renewed appetite for securitization among investors, market players said.
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Bank investors are expected to drive record tights on Barclays Capital’s final resecuritization of legacy National Credit Union Administration collateral, a $2.21 billion residential mortgage securitization called NCUA Guaranteed Notes Trust (NGN) 2011-M1.
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Spreads across European structured finance have continued to tighten in recent weeks, but the busy trading in secondary markets is forecast to take a pause, according to one senior ABS trader in London.
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Fitch Ratings has said that Deutsche Bank’s DECO 2011 CMBS, the first European CMBS since the crisis, would not achieve triple A under its methodology. The agency was asked to offer preliminary feedback on the deal but was not asked to rate the deal. S&P and DBRS have provided ratings.
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The volume of loans in U.S. commercial mortgage-backed securities entering special servicing continues to shrink, according to Fitch Ratings.
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Banks have reduced lending. The Federal Reserve Bank reported bank lending to small business is at its lowest level in years.
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Donald MacKinnon, former structured credit trading and asset finance chief at Nomura Securities has been hired by Cole Real Estate Investments to head high-yield portfolio management and to oversee strategy and new originations.
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Credit Suisse has priced its non-conforming U.K. residential mortgage-backed trade, Alba 2011-RP1.
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U.K. commercial real estate lending remains constrained, meaning any attempt to issue fresh commercial mortgage-backed securities will prove challenging, according to Paris–based Société Générale analysts in a new report.