CMBS

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, .

A dearth of refinancing options for European CMBS loans will not be covered entirely by new entrants as long as they focus exclusively on higher-quality properties.

Although the securitization market is still struggling to regain its post-crisis footing, there are glimpses of hope. In this month's cover story, for instance, Nora Colomer explores a potential source of new deal flow.

CMBS have enjoyed a steady recovery in spreads and dramatic improvement in credit performance this year, setting the stage for a pickup in issuance in 2013.