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Issue 300 - 29th August

  • News Analysis

    • CMBS
      • Spike surprise

        Good news amid difficult CMBS maturity outcomes

        Maturity spikes have been coming like clockwork for European CMBS and last month saw the latest iteration. However, amid all the loans coming due, the more significant development may well turn out to be the restructuring proposal put forward for the...

    • RMBS
      • Lessons learned?

        Higher standards seen in new resi loan originations

        The forthcoming expiry of the six-year statute of limitation for 2007-vintage US RMBS has sparked a sense of urgency among investors seeking to file representation and warranty suits. At the same time, demand for forensic reviews of newly originated...

    • CLOs
      • CLO progress

        CLO 2.0 market booming as documentation evolves

        US CLO issuance this year is on course to reach double 2011's volume, having already matched it by the end of June. With the advent of 'CLO 2.0', evolution in CLO documentation is keeping pace. Although there have been many changes made for the new...

  • Market Reports

    • Structured Finance
    • CMBS
      • CMBS BWIC composition switch

        The strong supply seen in the US CMBS secondary market last week appears to be continuing this week. However, bid-list composition has changed. A recent Babson Capital client memo notes that while AM/AJ classes represented almost 60% of volume duri...

      • Secondary CMBS softens slightly

        US CMBS spreads widened yesterday, with bid-list supply dropping to around half of Tuesday's total. SCI's PriceABS BWIC data still shows 74 CMBS line items for the session, with a mix of new and familiar names. Interactive Data reports that Wednesd...

    • RMBS
      • Dramatic tightening for European RMBS

        European RMBS spreads have continued to grind tighter and will carry on doing so, according to one trader. Both new deals and the secondary market are reaching remarkable levels. "Spreads have been moving for a few months now and they are still get...

  • News

    • CMBS
      • CMBX rally overdone?

        With CMBX total returns increasing by an average of 3.4% over the last three months, CMBS analysts at RBS question whether the market has rallied too far too fast. Many CMBX.AAA, AM and AJ prices are trading at or near their highest prices in nearly...

  • Job Swaps

    • CMBS
      • CCRE names new chairman

        Steven Kantor has been appointed as chairman of Cantor Commercial Real Estate (CCRE). He was previou...

    • RMBS
  • News Round-up

    • ABS
      • Tobacco review completed

        Fitch has completed the review of its tobacco portfolio accounting for the amount of Master Settleme...

      • Polish auto ABS marketing

        A rare Polish auto loan ABS has hit the market. Dubbed GNB Auto Plan, the transaction is originated...

    • Structured Finance
      • Chrome portfolio sold

        Berwin Leighton Paisner (BLP) has disclosed that it acted for a joint venture between Development Se...

    • CDO
      • Duke redemption delayed

        The auction call redemption amount was not met in yesterday's Duke Funding High Grade I sale (SCI 7...

      • ML3 wound down

        The final Maiden Lane III auction was held yesterday, 23 August, comprising 21 mezzanine ABS CDO tra...

    • CMBS
      • CMBS loss severity spikes

        While CMBS conduit loan liquidations ticked up by a modest 4% this month, loss severity jumped from...

    • NPLs
      • NPL portfolio acquired

        Sabal Financial Group has acquired a non-performing CMBS loan portfolio from CWCapital. The underlyi...

    • Risk Management
      • Pricing service enhanced

        SIX Financial Information has released a new Evaluated Pricing Service (EPS) after a year of infrast...

      • REO-to-rent risks outlined

        Moody's has commented on the main types of risks that REO-to-rent securitisations would present, inc...

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