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  • The European Commission has informed state-backed banks to consult it before offering to buy back securitizations on their call dates and not to use government funds in those cases.
  • Delinquencies on commercial real estate collateralized debt obligations jumped in September, with the Fitch CREL CDO Delinquency Index rising from 7.5% to 8.7%.
  • Off-balance sheet special purpose entities still have a place in the world’s modern financial markets, but structured investment vehicles and collateralized debt obligations are dead and buried, according to a report from the Basel Committee on Banking Supervision.
  • Interest-only commercial mortgage-backed securities bonds rallied last week, with a 15-bond bid list trading at tighter-than-expected levels.
  • Realpoint, the Horsham, Pa.-based rating agency, is projecting a year-end delinquency rate of 5.5% to 6% for commercial mortgage-backed securities.
  • Life insurers holding private commercial mortgages saw their second quarterly gain in a row and their best performance in nearly two years.
  • The Federal Reserve has spent $904.95 billion, or 72.4% of the $1.25 billion earmarked for buying agency mortgage-backed securities.
  • Interest in initial public offerings for real estate investment trusts that invest in distressed mortgages is waning.
  • A growing number of investors are seen hunting for bargains in real estate over the new couple of years, according to Mark Shapiro, Barclays Capital’s head of global restructuring and finance.