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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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Credit Suisse has scooped up Roger Lehman, the head of commercial mortgage-backed securities research away from Bank of America, as part of its move to reboot its CMBS group (TS, 4/21).
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Broker-dealer MF Global Holdings has added three new sales recruits to its securities team in the advent of a four-fold expansion as it builds up its mortgage- and asset-backed securities team.
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Defeasance among loans in U.S. commercial mortgage-backed securities surged in 2010 to 2.8 billion, up from $1.3 billion the preceding year, according to Moody’s Investors Service.
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Paper from the carved out banks holding distressed assets has fuelled trading in Europe’s secondary asset-backed securities sector, with bids-wanted-in- competition climbing to €392 million ($560 million) last week, the largest volume this year, according to traders and Citigroup data.
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Primary market activity in European structured finance is whirring back to action, with a handful of deals expected to price in the next few weeks.
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Delinquencies of loans in U.S. commercial mortgage-backed securities inched up just 1 basis point in April to 8.75%, as loan resolutions basically canceled out increases in late payments, according to Fitch Ratings.
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Federal regulators appeared to be split over how much to disclose of the criteria they plan to use to determine which nonbank financial firms are considered systemically important, and therefore subject to tougher capital standards and regulations.
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The Department of Justice’s civil lawsuit against Deutsche Bank and its MortgageIT subsidiary is expected to be the first of a wave of litigation as U.S. authorities step up efforts to reclaim losses from questionable collateral and the toxic securitizations, according to market participants.
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A loan in the €1.08 billion ($1.56 billion) Talisman 6 German commercial mortgage-backed securitization has been placed into special servicing after a breach in its outstanding loan-to-value covenant sparked an event of default.