CMBS

NorthMarq Capital has arranged a $98.353 million tax-exempt bond securitization (TEBS) for a national bond portfolio owned by TCH I Depositor.

The American Securitization Forum (ASF) released a statement today applauding the House Financial Services Committee’s approval of legislation aimed at stabilizing the ABS market.

The U.S. CMBS delinquency rate declined sixteen basis points in June to reach 9.02%, according to Moody’s Investors Service’s Delinquency Tracker (DQT). The rate of loans in special servicing dropped for the second straight month with a decrease of 27 basis points, settling at 12.35%.

Legislation is moving forward that would more definitively exempt rating agencies from a liability that shut down securitized markets at one point last year, according to an industry trade group.

The CRE Finance Council (CREFC) submitted its comments to regulators on the joint regulatory proposal on credit risk retention for ABS.

This legislation might as well be called "The Kick the Can Act" and for once, its backers aren't ashamed to admit it. In fact, they're damn proud of it. It's the whole point.

Friday's European bank stress tests revealed that all securitization positions in European banking and trading books were stressed, according to market reports.

A new Trepp report showed that while the percentage of loans that paid off on their balloon date rose seven basis points to 42.2% in June, the rate is still struggling to recover after two consecutive months of decline.

Wells Fargo and Deutsche Bank are marketing a CMBS deal worth approximately $1.0 billion. This will be the largest single borrower offering of 2011.

The Joint Forum urged banks to provide more transparency to investors in the securitization industry while also decreasing the complexity of the products offered.