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CMBS

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  • Real Capital Analytics is launching the first database that will let users compare property sales data against appraisal data on properties that are included in commercial mortgage-backed securities deals.
  • Delinquencies in U.S. commercial mortgage-backed securities are likely to double or even triple by the end of 2008, according to analysts at Fitch Ratings.
  • Fitch Ratings is raising subordination levels on all investment grade commercial mortgage-backed securities, including triple A and triple B-rated bonds.
  • Over the last six months, the 2006 and 2007 commercial mortgage-backed securities U.S. vintages, while still performing with minimal delinquencies, have gotten a reputation for having aggressive pro forma underwriting and interest-only loans.
  • AFTER A dire second half of 2007, a glimmer of hope emerged in the European CMBS market this week, with buyers appearing and several deals coming to the market.
  • Deutsche Bank’s Deco 17- Pan Europe 7, the €1.25 billion ($1.8 billion) European commercial mortgage-backed securitization, originally announced in August, is to be re-marketed after facing structural changes.
  • Merrill Lynch has shuttered its commercial real estate collateralized debt obligation unit as it continues to scale back its CDO unit, said a close source close to the situation.
  • Assured Guaranty has opened an office in Sydney that will focus on expanding the Monoline insurer's Australian and Asia Pacific markets.
  • The British Broadcasting Corporation’s Juturna (European Loan Conduit No.16) commercial mortgage-backed securitization class A notes have been placed on negative ratings watch by Fitch Ratings due to the wrap-provider MBIA being placed on watch just before Christmas.