CMBS

After the Japanese crisis, CMBS secondary market activity was the most impacted versus all other securitization sectors, experts said.

As the structured finance market struggles to make sense of myriad new rules stemming from the Dodd-Frank Act, it's become clear that rating agency reform initiatives from the regulators have largely been put on hold.

Fitch Ratings said today that enhancements it continues to make to its rating criteria for structured finance and covered bonds will have less of an effect on ratings for existing and new transactions.

Smaller, thinly capitalized investors in nonperforming mortgages could face liquidity concerns in the coming months as private equity investors begin to re-examine their commitment to the business while bolting for higher returns elsewhere.

The American Securitization Forum (ASF) opened a Washington, D.C. office in an effort to further its advocacy efforts on behalf of the securitization markets.

The CRE Finance Council (CREFC) released its comprehensive and complete market standards for CMBS 2.0.

Brazilian securitization consultancy Uqbar said in a report that 2010 issuance of CRIs, the main vehicle for real estate securitization in the country, hit R$8.53 billion ($5.1 billion) last year (see chart below). This was more than double the figure for 2009.

Commercial real estate services company Grubb & Ellis has hired JMP Securities as an advisor to explore strategic alternatives for the company, including a sale or merger.

Kondaur Capital Corp., which a month ago slashed its loan workout staff by almost 40%, on Tuesday announced that it hired Mark Ferrara as managing director of its newly formed community banking group.

The speed and volume of loans in U.S. CMBS being transferred into special servicing has begun to subside in recent months, according to Fitch Ratings.