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CMBS

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  • A number of commercial real estate trade and lobbying groups are at work on a series of proposals that aim modify and extend the Term Asset-Backed Securities Loan Facility and the Public-Private Investment Partnership.
  • Barclays Capital researcher Kale Brown has switched to trading commercial mortgage-backed securities in London, replacing Ian Willis, who has left the firm.
  • FIG
    Standard & Poor’s has reversed dramatic downgrades of three US CMBS transactions less than a week after they were cut from AAA to as low as BBB-. Analysts have criticised the rating agency for confusing the market.
  • More defaults in larger loans held in commercial mortgage-backed securities are on the way as tenancy levels drop and rental income falls.
  • The second publicly marketed European commercial mortgage-backed securities since the onset of credit crisis has hit the market.
  • Class B investors of European commercial mortgage-backed security Epic (Industrious) could experience losses of 10-20% after last Thursday’s auction of 15% of the deal’s portfolio.
  • A measly $668.94 million in loans were requested to buy legacy commercial mortgage-backed securities through the Term Asset-Backed Securities Loan Facility.
  • Steve Kantor, a senior Credit Suisse executive whose responsibilities once included overseeing commercial real estate finance, is preparing to leave the firm.
  • A conflict between appointments of special servicers have surfaced in the embattled European commercial mortgage-backed securities transaction White Tower 2006-3.