CMBS

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.

Deutsche Bank and Cantor Fitzgerald plan to issue a $1.4 billion CMBS conduit deal called COMM 2013-CCRE8.

Freddie Mac plans to issue its ninth multifamiliy CMBS of 2013, a $1.3billion transaction that is backed by fixed-rate multifamily mortgages with a 7-year term.

Goldman Sachs, Citigroup and Jefferies priced the $1.1 billion CMBS deal called GS Mortgage Securities Trust 2013-GCJ12.

JP Morgan plans to issue a $510 million, commercial mortgage-backed securitization deal backed by Marriott hotel properties called JP Morgan Chase Commercial Mortgage Securities Trust 2013-JWRZ.

“Persistent economic concerns” may slow the pace but won't stop improvements in commercial real estate performance throughout 2013, according to Moody's Investors Service.

Ratings rotation was advocated by some panelists at a talk a convened by the Securities and Exchange Commission on a credit rating assignment system as envisaged by Section 939F of the Dodd-Frank Act, also known as the Franken Amendment.

A range of voices in the structured finance industry spoke against a credit rating assignment system as envisaged by Section 939F of the Dodd-Frank Act at a panel convened by the Securities and Exchange Commission.

The American Securitization Forum and the Structured Finance Industry Group will both speak against the Franken Amendment at the U.S. Securities and Exchange Commission ratings agency roundtable event in Washington D.C.