CMBS

Commercial real estate mortgage banking firm CW Financial Services (CW), has enhanced its commercial real estate (CRE) debt platform.

The government is a month into selling its AIG holdings. Despite the bids for the auctions being pre-announced, the sales are causing a commotion in the RMBS secondary market, and the reaction from securitization players is not entirely positive.

The Securities and Exchange Commission's (SEC) proposal issued May 18 to implement rules mandated by the Dodd-Frank Act tasks rating agencies with measures most have sought to address, but the proposal's detailed requirements could instead overwhelm smaller agencies.

Vendors anticipated hearing May 27, the Friday after ASR's deadline, whether they could bid on the contract to build and operate a repository to collect and make available data for loans backing European RMBS, a project several steps ahead of a similar effort in the U.S.

In April, Cantor Fitzgerald & Co. came to market with its debut new-issue CMBS transaction that was backed by loans originated by Cantor Commercial Real Estate (CCRE), a real estate financing business formed by Cantor Fitzgerald and CIM Group in August 2010.

The first investor meeting for the largest German multifamily CMBS was held last week.

An eminent domain action this year that a recent Barclays Capital report indicated might hurt certain investors in one CMBS deal was a one-off event that could have been worse. But it is nevertheless is worth noting as it serves as a reminder that this known but rare risk can crop up occasionally.

Principia Partners released the latest version of its structured finance platform called Principia SFP.

The aggregate value of commercial real estate (CRE) loans priced by DebtX backing CMBS rose to 80.9% as of April 29 from 79.8% as of March 31. Loan values were 76.4% as of April 30, 2010, according to a release from the company.

Despite assertions they got off relatively lightly in the Dodd-Frank Act, foreign banks operating in the U.S. are increasingly worried they will be targeted by some of the regulatory reform law's toughest provisions.