Public finance

The Connecticut Housing Finance Authority issued more than $400 million of bonds in 2015 to finance mortgages at below-market interest rates for low- to moderate-income first-time homebuyers, according to authority officials.

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.

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 mortgage underwriting standards have already loosened dramatically this year, but it seems that some borrowers are still trying to get away with a little more.

Greystone has secured $88.6 million in financing to rehabilitate 20 multifamily properties for low-income residents in Tennessee.

California’s Richmond Community Foundation will pursue a new social impact bond vehicle with a $3 million revenue bond private placement it hopes to close next month with the local Mechanics Bank.

California priced $446 million in veterans' general obligation bonds last week in a combined refunding/new money sale.

Goldman Sachs is marketing $848.4 million of bonds backed by commercial mortgages.

Two Harbors Investment Corp. made a quick turnaround from its early September transaction and is marketing another $334 million of bonds backed by residential mortgages.