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Banks may be protected from a direct hit, but they have invested in vehicles that include such loans, potentially exposing them to defaults.
March 11 -
The $458.87 million HalseyPoint CLO1, via JPMorgan, is the first deal by the firm that was launched in May 2018 by two former Columbia Asset Management portfolio managers.
December 18 -
Historically, rising interest rates have enabled banks to earn more, but this time around in the banking industry, like much else, things are a little different.
April 23Whalen Global Advisors LLC -
An industry working group might seek legislation to eliminate the need for investor consent in the shift to a new benchmark interest rate. But any legislative fix is almost certain to be challenged because choosing an alternative to Libor will inevitably favor one party in a transaction over another.
April 21 -
The Structured Finance Industry Group wants Treasury and the IRS to issue a notice that a change from Libor to an alternative index would not be treated as a taxable exchange.
March 31 -
Unusually for a debut transaction, the $329.7 million M360 2018-CRE1 will be actively managed: For the first 12 months after the closing date, funds from repaid principal can be used to purchase new loans, subject to eligibility criteria.
July 17 -
Nonbanks are originating more commercial mortgages on fixer-uppers in response to a sharp drop in the cost of funding in the securitization market. These deals are said to be "vastly different" than other CRE instruments that sustained big losses in the crisis — so far.
March 16 -
The deal is backed by an unusually concentrated portfolio of just 19 loans on properties being rehabbed or converted to a new use; by property type, the biggest exposure is to hospitality, at 19.7%.
February 8 -
The deal, BXMT 2017-FL1 weighs in at $1 billion, making it more than twice as large as most CRE-CLOs issued this year; its size isn't the only unusual feature, however.
December 5 -
Benefit Street Partners is securitizing 20 short-term commercial real estate loans it originated or acquired for transitional properties currently with unstable cash flow.
November 15