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CMBS

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  • The total balance of commercial mortgage-backed securities loans in special servicing dropped almost $2 billion to $90.1 billion from the second to third quarter of 2010.
  • FIG
    The Opera Finance (Uni-Invest) CMBS could breach its standstill agreement in February, opening the door to a conflict with noteholders. Servicer Eurohypo could struggle to convince noteholders it will act in their interests, as it also holds a mezz position in Uni-Invest.
  • FIG
    One noteholder group in the REC 5 CMBS, backed by Plantation Place, has warned the others that it will block any proposals to sell the property at a distressed level.
  • The U.S. Securities and Exchange Commission this morning gave approval to two final rules regulating repurchase disclosure and due diligence reviews for asset-backed securities.
  • Hudson Advisors has scooped up Steve Warjanka from Hexagon Securities, where he focused on mortgage-backed securities sales and trading.
  • Freddie Mac is prepping its first multifamily commercial mortgage securitization for 2011, a $1 billion FREMF 2011-K10.
  • Investors say the new $1.51 billion Barclays Capital-led residential mortgage-backed securitization of National Credit Union Administration assets is fully subscribed, with initial whispers on AAA paper in the mid-to-upper 40s.
  • Risk-based capital requirements for insurance companies that invest in commercial mortgage-backed securities could be substantially higher than what was expected when the National Association of Insurance Commissioners released its initial guidelines last November.
  • The effect of the recent $2.64 billion Beacon Seattle and DC Portfolio loan modification has had a limited impact on the seven 2007 commercial mortgage-backed securities the mortgage is split across, according to traders.