Securitization

In their detailed presentation to the FOMC last month, Fed staff “assessed asset valuation pressures as elevated” — their highest characterization of risk.

Morningstar Credit Ratings LLC let analysts make undisclosed adjustments that resulted in higher ratings of mortgage-backed securities for issuers that paid for the rating, the U.S. Securities and Exchange Commission said in a lawsuit against the rating agency.

The best mortgage bonds to buy now may be the ones the Federal Reserve is purchasing, because the securities might benefit the most if macro optimism fades.

However, the share of new impairments increased, likely as a result of the high concentration of these loans given to self-employed borrowers.

January’s excess return came in at a level well above the trailing average for the month, thanks in large part to a helpful hand from the Federal Reserve.

Thirty-one of 39 shopping malls linked to a key commercial real estate credit derivatives index are currently impaired.

DLJ and Nomura Corporate are sponsoring portfolios of mostly previously modified, well-seasoned mortgages that have at least two years of clean-current payment status.

At least 25 properties that Columbia Sussex Corp. has financed with loans packaged into commercial-mortgage backed securities are in special servicing or on servicer watch lists.

The weighted average seasoning is 34 months, well above that of prior Invictus-sponsored deals on the Verus shelf that are typically new originations under 10 months.

The transaction finances the loan portion of a $989.5 million acquisition of warehouse and distribution properties located in nine states.

The volume of Ginnie securities issued in December marked the first time more than $80 billion has been issued in a month.

Fitch and Trepp reported that overall commercial mortgage-backed security delinquencies were down, while the MBA reported a slight increase.

The transaction features a pool of non-qualified mortgages with a higher-than-average delinquency rate driven by COVID-19 relief plans.

The Swiss banking giant is expected to set aside $850 million for litigation costs stemming from a long-running dispute with bond issuer over the sale of mortgage-backed securities.

The first commercial mortgage securitization is backed by eight recently acquired garden-style apartments in five states.

The largest U.S. shopping center became delinquent on its debt last year after its owner Triple Five Group began skipping mortgage payments, citing hardships from the COVID-19 pandemic.

While the balance of newly delinquent loans fell by 50% from November, the ratings agency warned that many borrowers will likely struggle to bring loans current under ongoing pandemic conditions.

Reports indicate distressed owners would rather surrender their hotel or retail properties instead of negotiate workouts on delinquent loans as the pandemic spread carries on.

The three-year loan will boost the hotel-centered REIT's dwindling cash reserves battered by the COVID-19 global impact on travel.

The availability of financing hasn’t been an issue to date, but it still could be.