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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Standard & Poor’s has downgraded all the subordinated notes issued out of the “socialist” funding vehicle of Northern Rock’s Granite mortgage master trust. The agency affirmed all the senior tranches of Granite at triple-A and also affirmed the subordinated notes issued via the “capitalist” Funding vehicle.
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A clean-up sale for Victoria Finance, one of the last of the independent structured investment vehicles, will take place tomorrow.
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Citigroup is stepping back into conduit lending with plans to launch its own commercial mortgage-backed securitization in the coming weeks.
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The issuer of White Tower commercial mortgage securitizations could be headed for a technical event of default due to reporting covenants, one London-based financial services firm has warned.
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Ernst & Young’s resignation as auditor on White Tower 2006-3 was triggered by its provision of a qualified opinion on the issuer’s ability to continue as a going concern, the issuer revealed on Friday.
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The TCW Group is acquiring Metropolitan West Asset Management and in the process Jeffrey Gundlach, cio and lead portfolio manager of TCW’s high-grade fixed-income funds and accounts, will be leaving the firm.
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While condo and rental conversions represent only a small segment of CMBS securitized loan collateral, they have, in our opinion, been able to secure more than their fair share of negative headlines.
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Ernst & Young, auditor of the £1.15 billion ($1.90 billion) White Tower 2006-3 commercial mortgage securitization, has resigned from that role.
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Darrell Wheeler, former head of securitization research at Citigroup, has taken a new position at Austin, Texas-based Amherst Securities Group.