CMBS

Freddie Mac is marketing multifamily mortgage-backed securitizations for a combined total of approximately $3.5 billion.

The Structured Finance Industry Group has hired Falcon Capital Advisors as well as a consultancy run by Kristi Leo to help it attract new members and pursue its legislative agenda.

Standard & Poor’s has joined the chorus warning of deeper risks in conduit CMBS issued this year compared with 2012-and-earlier vintages.

The overall 30+ day CMBS DQ rate has fallen about 50 bps year to date to 9.07%, according to Trepp figures and this trend is likely to continue in 2013.

Kroll Bond Rating Agency (KBRA) has assigned preliminary ratings to the JP Morgan/Barclays’ $1.34 billion CMBS conduit, JPMBB 2013-C12.

Standard & Poor’s said today that Raith Capital is set to become a more active buyer of B-piece paper in CMBS deals.

Delinquencies on commercial mortgages that back securities inched up in May as resolutions fell, according to Trepp.

HSBC and Lloyds TSB are arranging a £380 million ($580 million) CMBS that is backed by UK student housing, according to a Standard & Poor’s presale report.

The commercial mortgage-backed securities market’s near miraculous turn around and the bonds’ plunging spreads, as well as indications of deteriorating credit quality, suggest buyers should beware.

The delinquency rate for legacy CMBS transactions rose in May after having posted its low reading in the previous month, according to Credit Suisse.