Weekly Issue Archive »

Issue 257 - 26th October

  • News Analysis

    • CMBS

      • Revaluation requirements

        Euro CMBS LTV covenants in the spotlight

        The European post-crisis precept that servicers should sell the property immediately if a CMBS loan breaches an LTV covenant no longer holds true. But grey areas remain around LTV covenants, especially regarding property valuations. Recent research...

    • ABS

      • Hesitant hiring

        Recruitment lull expected to continue

        After a quiet year so far for those in structured finance recruitment, the final quarter is not expected to buck the trend. Participants appear to be taking a more measured view of the recovery, with cautious expansion set to be the dominant trend go...

    • CDO

      • Reflective ratings?

        Trups CDO outlook stabilises, ratings questioned

        The number of 'problem banks' monitored by the FDIC dropped in the second quarter from 888 to 865 - the first decrease since the financial crisis began - which should mean fewer new defaults in Trups CDOs. Although the market is n...

    • RMBS

      • Prepay potential

        Major HARP changes announced

        The FHFA and GSEs Fannie Mae and Freddie Mac yesterday announced a long-anticipated series of changes to HARP (SCI passim), designed to encourage more eligible borrowers to refinance. Up to three million borrowers could take advantage of the changes,...

    • CMBS

      • Floating into fixed?

        Increased acceptance of fixed rate CMBS loans expected

        The UK commercial real estate lending market is built on convention and at present the convention is for floating rate loans. But limited refinancing options and the emergence of a new breed of originators are driving increased acceptance of fixed ra...

    • CDS

      • Growth market

        New supply of Aussie CLNs gaining traction

        Demand for simple Australian structured credit products is increasing - albeit from a low level - as investors search further afield for yield. At the same time, issuance of these products offers banks an opportunity to attract a...

  • Market Reports

    • CMBS

      • CMBS bid lists wear thin

        BWICs have saturated the European secondary CMBS market and already weak dealer bids are getting weaker. Senior paper remains attractive and is drawing in former mezzanine investors, but otherwise activity is muted. Hedge fund investors have become...

  • News

    • ABS

      • SCI Start the Week - 24 October

        A look at the major activity in structured finance over the past seven days

        PipelineFour transactions remained in the pipeline at the end of last week: the US$1bn Freddie Mac SPC Series K-15 CMBS; the €1.5bn IM FTPYME Sabadell 9 SME CLO; and two RMBS - Permanent Master Issuer 2011-2 and the A$500m Series...

  • Job Swaps

      • ILS head hired

        Michael Popkin has been appointed co-head of insurance-linked securities (ILS) for Towers Watson Cap...

    • CDO

      • Citi settles CDO case

        The SEC has charged Citigroup's principal US broker-dealer subsidiary with misleading investors abou...

    • CMBS

      • Special servicer hires two

        CWCapital Asset Management (CWCAM) has hired Eric Ellison and Toni Meyer Walker as mds. They will be...

  • News Round-up

    • CMBS

      • Epic loss hits class As

        The final payment on Epic (Industrious) was made on the 20 October IPD, resulting in a loss on all c...

      • Devonshire Square extended

        The Devonshire Square whole loan securitised in ELoC 26 (Triton), which was due to mature today, has...

      • Innkeepers settles

        Innkeepers USA Trust and its affiliates have reached an updated agreement with Cerberus Series Four...

      • MiFID 2 unveiled

        The European Commission is proposing to revise the Markets in Financial Instruments Directive (MiFID...

    • RMBS

      • Fastnet 5 restructured

        Irish Life & Permanent (IL&P) has restructured Fastnet 5, an Irish RMBS. Under the...

  • Research Notes

    • RMBS

      • Australian Mortgage Delinquencies Increasing Despite Mining Boom

        By Arthur Karabatsos, Moody's Vice President and Senior Analyst (Advertising Feature)

        Despite the Australian mining boom, mortgage performance has shown a material deterioration since Moody's last regional delinquency report in October 2010. Between March 2010 and June 2011, as the national delinquency rate - as calculated b...


Print this issue Click here to access this issue in print format

×