Home price problems, continued high unemployment numbers and loan seasoning are behind the slowing pace of the improvement in the current to delinquent roll rates for nonagency mortgage loans in the past few months, according to the analysts at Barclays Capital.

The delinquency rate on securitized multifamily loans jumped over 50 basis points from August to nearly 17% in September and it continues to be the worst performing property type in the commercial mortgage-backed securities market.

The decline in ReRemic issuance and ratings downgrades in the non-agency space means investors have less investment grade assets to buy at a time when many prefer to seek refuge in this safer haven.

PHH Corporation issued a $350 Million privately placed fleet lease-backed securitization.

American Express is in the market with two deals issued from its credit account master trust.

Wilbur Ross is moving on to the construction phase of his buy-and-build strategy in the U.S.

Efforts to negotiate a settlement between state attorneys general and the top five mortgage servicers collapsed Friday after California pulled out the negotiations.

The second-largest loan securitized in CSFB 2004-C5 was scheduled to mature in November 2011 and was refinanced by TIAA-CREF last month, according to Barclays Capital.

European CMBS Maturity Repayment Index changed only marginally during September on the back of full and partial redemptions totaling EUR140.9 million($187mn).

Investors have recently focused on the difficulties encountered by the European banks, which hold huge amounts of troubled sovereign debt. However, I am quite worried over the state of the banking system in the United States. The recent changes to monetary policy by the Fed, the attempt by state attorneys general to coerce an onerous settlement over flawed servicing practices, and a continued litigation feeding frenzy have put the domestic banking system at risk. Whatever the legitimate grievances, the desire to both punish the banks and obtain reparations for past practices risks pushing the financial system into a new and immensely damaging crisis.

Esoteric or nontraditional assets are gaining momentum to claim a bigger piece of the ABS market.

U.S. structured finance players are exploring new frontiers. With ABS issuance volume not as robust as it once was, yield-hungry investors have turned to esoteric assets.