Felipe Ossa
Senior EditorFelipe Ossa is senior editor of Structured Finance News and a contributor to National Mortgage News.
Felipe Ossa is senior editor of Structured Finance News and a contributor to National Mortgage News.
With few foreclosed homes left to pick up on the cheap, the biggest landlords are buying, or building, new single-family homes to pad their portfolios; mortgages on these properties could show up as collateral in rental bonds.
The rising number of Chinese buying U.S. homes could be a boon for investors with a stake in residential mortgages.
Analysts at Kroll Bond Rating Agency predict issuance in bonds backed by commercial mortgages could hit $125 billion next year, even with borrowing costs rising as interest rates go up.
Most investors in a JPMorgan survey said they want to ditch the pricing benchmark now used for a variety of asset-backed bonds the swaps curve and go back to Treasuries. But it's not so easy.
Fannie Mae just took out a potential chunk of private label CMBS supply. The government-sponsored enterprise said it's helping fund Blackstone's purchase of Stuyvesant Town.
When news broke in October that New York's Stuyvesant Town was being sold, observers expected the $3 billion loan on the property to be paid off without a glitch.
JPMorgan is sounding the alarm about bank capital rules on the horizon that could nearly wipe out secondary trading in most kinds of asset-backed securities.
Commercial-mortgaged-backed, auto-loan and other securitizations use what is known as the swaps curve to price floating-rate deals. But pricing volatility is causing some to ask whether the market should go back to Treasuries after a 15-year hiatus.
Commercial mortgages bundled into securities will keep seeing their underwriting standards deteriorate from this year into 2016, said JPMorgan analysts in a report Wednesday.
Morgan Stanley is readying a deal backed by 57 commercial mortgages.