CMBS

Extended Stay is looking to refinance its $2.6 billion, large-loan, hotel CMBS next year, said one source familiar with the deal.

Greg Reiter has joined Wells Fargo Securities as managing director and head of Residential Mortgage Research, the bank announced today.

A conduit offering led by JP Morgan and a new single borrower transaction led by Goldman Sachs entered the pipeline late last week, which will bring year to date issuance total to $48bn, according to Standard & Poor’s.

An increase in new builds in the multifamily sector in recent months has raised some concerns that the market may face supply risk down the line; but CMBS industry analysts said it’s probably premature to suggest that the sector is headed towards a bubble.

The balance of specially serviced CMBS loans posted its eighth consecutive monthly decrease in November, but analysts at Deutsche Bank said in their 2013 CMBS outlook report that loans are not being modified or liquidated like they used to be.

Societe Generale said it hired Warren Geiger as a managing director and senior CMBS trader in New York.

Trepp LLC said in a report today that November CMBS delinquency rates increased by 2 basis points, reversing a consecutive three month declining trend.

The CMBS primary pipeline looks set to continue a busy pace until the end of the year with three deals marketing this week.

Freddie Mac announced its seventeenth multifamily mortgage backed securities for this year; the $1.1 billion structured pass-through certificates called K-023, is expected to price this week, .