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Year:  2006 |   2007 |   2008 |   2009 |   2010 |   2011 |   2012 |   2013 |

Equitable subordination risk rises

17 May 2013   CMBS
The risk of equitable subordination has arisen for the first time during insolvency proceedings of G...

Compelling case for CLO calls

16 May 2013   CLOs
Equity investors in callable 2010 and 2011 CLOs should call them now and take advantage of the low c...

Managers maintain CLO diversity

14 May 2013   CLOs
US CLO 2.0 managers have maintained good loan diversification, despite the market's rapid rise and t...

SCI Start the Week - 13 May

13 May 2013   Structured Finance
A look at the major activity in structured finance over the past seven days
Pipeline Two ABS, one ILS, one RMBS, one CMBS and four CLOs entered the pipeline last week. Of thos...

Eurosail judgements confirmed

10 May 2013   Structured Finance
The UK Supreme Court has handed down judgement on the Eurosail-UK 2007-3BL case, upholding previous...

CLO redemption risks examined

8 May 2013   CLOs
An unusual EOD notice has been issued for the Integral Funding CLO, after a scheduled optional redem...

ECB boost for SME ABS

3 May 2013   Structured Finance
The ECB has begun consultations with the European Council and EIB in order to promote a functioning...

Special servicing loan outcomes examined

30 April 2013   CMBS
Most resolved US CMBS loans remain outstanding, while REO loans account for an increasing proportion...

SCI Start the Week - 29 April

29 April 2013   Structured Finance
A look at the major activity in structured finance over the past seven days
PipelineThree new ILS deals joined the pipeline last week, as well as a further four ABS and two RMB...

TITN 2007-CT1 note EOD likely?

26 April 2013   CMBS
Comprising 33 loans, down to 18 currently, Cornerstone Titan 2007-1 has the largest loan count among...

CMBS loan resolution timelines diverge

25 April 2013   CMBS
The length of time between a US CMBS loan transferring to special servicing and ultimately being res...

CMBS hedging importance underlined

24 April 2013   CMBS
The bankruptcy of General Growth Properties (GGP) (SCI 13 May 2009) underlines the importance of inv...

Investors encouraged to make split decisions

23 April 2013   CMBS
The preference for US CMBS bonds being rated investment grade by at least two rating agencies has cr...

SCI Start the Week - 22 April

22 April 2013   Structured Finance
A look at the major activity in structured finance over the past seven days
Pipeline Five new deals remain in the pipeline from last week. These include one ABS, one CLO and t...

ASF, SFIG go toe-to-toe

19 April 2013   Structured Finance
Further details have emerged on the wave of defections from the ASF and subsequent formation of the...

Farallon pay-down welcomed

18 April 2013   CMBS
The US$1.6bn Farallon Portfolio loan, securitised in four separate CMBS, has paid off. The pay-down...

RMBS holders consider clean-ups

18 April 2013   RMBS
Clean-up calls are back on the agenda for seasoned senior jumbo RMBS now that the search for yield h...

Spread volatility presents ABS opportunities

16 April 2013   ABS
Spread volatility in US consumer ABS has increased markedly since the financial crisis. This trend i...

SCI Start the Week - 15 April

15 April 2013   Structured Finance
A look at the major activity in structured finance over the past seven days
Pipeline The number of deals entering the pipeline was fairly steady last week, with eight deals re...

Special servicer changes examined

9 April 2013   CMBS
As US CMBS write-downs increase, shifting control higher up the structure, the number of special ser...

Lack of collateral concerns CLO investors

9 April 2013   CLOs
Limited collateral and a lack of arbitrage emerged as the two stand-out concerns for respondents to...

SCI Start the Week - 8 April

8 April 2013   Structured Finance
A look at the major activity in structured finance over the past seven days
PipelineThe second quarter kicked off with a healthy number of new deals being announced. Of those t...

Servicer advances begin rebound

5 April 2013   RMBS
Servicer advance rates have reversed the downward trend that began in early 2009. As well as a poten...

Freddie to issue modified pools

4 April 2013   RMBS
Freddie Mac intends to start issuing pools of modified loans, which could offer a distinct investmen...

CMBS structuring proposals put forward

28 March 2013   CMBS
A recent open letter from a group of European CMBS investors has largely echoed the CRE Finance Coun...

SCI Start the Week - 25 March

25 March 2013   Structured Finance
A look at the major activity in structured finance over the past seven days
PipelineIt was another busy week for new deal announcements as the end of Q1 approaches. There were...

CLO market faces FDIC re-think

19 March 2013   CLOs
Additional regulatory changes coming into force on 1 April are set to impact the CLO market. The cha...

SCI Start the Week - 18 March

18 March 2013   Structured Finance
A look at the major activity in structured finance over the past seven days
PipelineAnother wave of deals began marketing last week. There were three ABS, an ILS, an RMBS and t...

Securitisation splinter group formed

15 March 2013   Structured Finance
The Structured Finance Industry Group (SFIG), a new trade industry advocacy group, has been formed i...

Office bucks watchlist trend

12 March 2013   CMBS
Knowing which criteria triggered a servicer watchlist (WL) placement can be helpful in predicting th...

Punch class Ms organise

12 March 2013   ABS
Punch Taverns has released a positive trading statement and still expects to meet guidance on full-y...

SCI Start the Week - 11 March

11 March 2013   Structured Finance
A look at the major activity in structured finance over the past seven days
Pipeline Last week was the busiest the pipeline has been for a while, largely due to five new CMBS...

Wave of CLO 2.0 re-pricings forecast

8 March 2013   CLOs
CLO 2.0 deals are starting to reach the end of their non-call periods and tighter loan spreads are e...

ML-style GSE unwind advocated

6 March 2013   Structured Finance
The FHFA has called for a new securitisation infrastructure in which Freddie Mac and Fannie Mae's pr...

CLO excess spread under pressure

5 March 2013   CLOs
The surge of repricings in the US leveraged loan market since the beginning of the year has the pote...

SLABS one-stop-shop debuts

5 March 2013   ABS
SecondMarket - which has traditionally specialised in facilitating student-loan backed auc...

SCI Start the Week - 4 March

4 March 2013   Structured Finance
A look at the major activity in structured finance over the past seven days
PipelineOnly three new deals entered the pipeline last week. They were: a UK CMBS called Intu (SGS)...

SCI Start the Week - 25 February

25 February 2013   Structured Finance
A look at the major activity in structured finance over the past seven days
PipelineMany deals joined the pipeline last week, with a good number remaining even after several pr...

Re-mods lengthening RMBS cashflows

20 February 2013   RMBS
Overall modification rates for US non-agency RMBS were significantly lower in 2012 than they were tw...

SCI Start the Week - 18 February

18 February 2013   Structured Finance
A look at the major activity in structured finance over the past seven days
Pipeline Last week was a quiet one for the pipeline, with ABS dominating proceedings. Among the fiv...

REIT demand returns

15 February 2013   RMBS
Higher MBS yields and rising stock prices have changed the investment landscape for US mortgage REIT...

MSBAM 2013-C8 prepay assumptions eyed

13 February 2013   CMBS
Several noteworthy price points were observed on the XA and five-year A2 tranches of the recently-pr...

SCI Start the Week - 11 February

11 February 2013   Structured Finance
A look at the major activity in structured finance over the past seven days
Pipeline Many of the deals that entered the pipeline last week went on to price by the end of Frida...

Increased focus on 'drop dead' provisions

7 February 2013   CMBS
The expiration of temporary rate reductions is emerging as a key driver of re-defaults of large modi...

SNS call 'interruptions' predicted

6 February 2013   RMBS
Embedded call features in SNS Bank RMBS are ultimately expected to be honoured, following the nation...

SCI Start the Week - 4 February

4 February 2013   Structured Finance
A look at the major activity in structured finance over the past seven days
Pipeline A relatively quiet week for the pipeline was dominated by CMBS, with three new deals marke...

Bruntwood offer welcomed

1 February 2013   CMBS
The Bruntwood Group is proposing to restructure its UK CMBS, Bruntwood Alpha. The pro-activity of th...

Agency RMBS under pressure?

30 January 2013   Structured Finance
ABS analysts at Bank of America Merrill Lynch suggest that a rotation out of bonds into equities wil...

CMBX.6 credit curve flattening expected

29 January 2013   CMBS
CMBX.6.BBB- spreads were approximately 30bp cheap versus similarly-rated cash bonds, following the l...

SCI Start the Week - 28 January

28 January 2013   Structured Finance
A look at the major activity in structured finance over the past seven days
PipelineIn a week dominated by new issuance, only three deals joined the pipeline and remained there...

Legacy CMBS windfall could be repeated

24 January 2013   CMBS
What was originally the triple-B class in BSCMS 2007-PW18 has received an interest payment that exce...

SCI Start the Week - 21 January

21 January 2013   Structured Finance
A look at the major activity in structured finance over the past seven days
Pipeline Last week ABS was in the minority for once in terms of new additions to the pipeline. A si...

GRAND progress beats expectations

18 January 2013   CMBS
Deutsche Annington has agreed partial refinancing transactions of €785m for the GRAND CMBS...

Value seen in MBIA-wrapped bonds

15 January 2013   RMBS
Absent a payout from Bank of America on alleged rep and warranty breaches or an increase in intercom...

DRA/Colonial mod breaks new ground

14 January 2013   CMBS
The US$742m DRA/Colonial Office Portfolio loan - split pari passu between the BSCMS 2007-P...

SCI Start the Week - 14 January

14 January 2013   Structured Finance
A look at the major activity in structured finance over the past seven days
PipelineNew deals have begun to be announced for the first part of the year, with seven transactions...

Mortgage rule, QM definitions released

11 January 2013   RMBS
The Consumer Financial Protection Bureau (CFPB) has adopted a new rule to protect buyers from irresp...

B-note bother forecast

10 January 2013   CMBS
Further details have emerged on the resolution of the 110 East 42nd Street loan, securitised in WBCM...

Trading pick-up predicted for CMBX 6

7 January 2013   CMBS
Markit CMBX Series 6 is due to launch on 25 January (SCI 8 August 2012), featuring a new sub-index....

Cliff bill briefly buoys market

7 January 2013   RMBS
US agency MBS outperformed both Treasuries and swaps after Congress passed a bill last week to avert...

Titan property sales positive

4 January 2013   CMBS
The multifamily properties securing Titan Europe 2006-2's Petrus loan have been sold. The buyer and...

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