CMBS

Fitch Ratings formally reviewed 99% of its U.S. structured finance ratings over the past 12 months as of August 2010, the rating agency said today.

The Richland Cos. hired Andy Carey and Roy Elengical as tenant representatives in its Houston office.

Last Monday, the Federal Deposit Insurance Corp.'s (FDIC) board of directors approved the final rule to replace its Safe Harbor transition rule on securitization. The finalized version extends until Dec 31 the transitional Safe Harbor - allowing the ABS market three months to adjust to the final rule's requirements.

With the government nearly monopolizing mortgage origination, players are asking themselves: How do private companies create "affordability" products for non-prime borrowers and do so by funding themselves through a viable ABS market?

The latest September remittance data showed delinquencies of more than 60 days on CMBS have continued to climb, Barclays Capital said in a report.

Approximately $39 billion of CMBS conduit loans out of a projected $66 billion of CMBS are set to mature in 2011, according to Bank of America Merrill Lynch analysts said in a research note today.

The Federal Deposit Insurance Corp. (FDIC) unexpectedly delayed the release of an interim rule to create a resolution system for the largest, most-connected banks and nonbanks, saying it needed to consult with other regulators first.

The American Securitization Forum (ASF) released a statement saying that the Federal Deposit Insurance Corp.'s (FDIC) action today will seriously harm the federal government’s ability to exit the U.S. housing market and to reestablish a private label mortgage market.

The Federal Deposit Insurance Corp. (FDIC) is set Monday to begin a Herculean task: creating a resolution procedure for large, systemically important firms that improves on the bankruptcy process but still resembles it enough that it does not unsettle the marketplace.

The National Credit Union Administration (NCUA) said it took under conservatorship three more troubled corporate credit unions this afternoon as part of is effort to shed the corporate system of toxic assets.