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CMBS

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  • Secondary spreads on U.K. commercial mortgage-backed securities may see a period of tightening in the second half of 2008, following RMBS spread shrinkage.
  • Prices for trophy assets and large portfolios in Germany are being affected by a tougher lending market, with owners either dropping their asking prices or pulling sales.
  • Price talk on newly issued commercial mortgage-backed securities deals continues to tighten, with a $1.2 billion conduit from a partnership that includes JP Morgan, CIBC World Markets and PNC Bank seeing price talk of swaps plus 167 on the 10-year, 30% subordination AAA-rated bonds.
  • Lehman Brothers Commercial Mortgage is launching a JPY40 billion ($380 million) securitization backed by apartment loans.
  • Attorney Prassana Mahadeva has founded Mahadeva, PLLC, a New York-based boutique law firm focusing on distressed situations and creditors' rights.
  • The delinquent, unpaid balance for commercial mortgage-backed securities increased for the fourth straight month, according to research from Realpoint.
  • THE BANK of England reported this week that UK banks may have incurred up to £2.1bn of mark to market losses as a result of the frozen market in commercial mortgage backed securities.
  • German multi-family housing commercial mortgage-backed securities and Greek residential mortgage-backed securities are generating investor interest at the moment despite the current market troubles, according to analysts at JPMorgan.
  • Deutsche Bank AG Tokyo Branch has come to market with a JPY28 billion ($269 billion) commercial mortgage-backed securities deal from its J-CORE Trust program.