CMBS

Nonbanks are originating more commercial mortgages on fixer-uppers in response to a sharp drop in the cost of funding in the securitization market. These deals are said to be "vastly different" than other CRE instruments that sustained big losses in the crisis — so far.

First the House and now the Senate have included provisions in their regulatory relief bills that bankers say would go a long way toward clearing up confusion over how to treat high-volatility commercial real estate loans.

Just one year after it got a $1.05 billion loan from a trio of banks (Goldman, BofA and Citi), Blackstone has obtained a new, $1.3 billion loan from two more banks: Barclays and Deutsche.

The security that was incorporated into the index is backed exclusively by loans on green building certified properties; the GSE is still working on acceptance of financing for green upgrades.

Commercial banks typically compete with CMBS, but this Delaware state chartered bank is securitizing 30 floating-rate loans secured by 35 apartment complexes, retail and office buildings.

Citigroup and Goldman Sachs are securitizing a $405 million first mortgage taken out to help finance the private equity-led acquisition of the WoodSpring Suites low-priced extended-stay hotel chain.

Growing competition may prompt commercial mortgage-backed securities issuers to accept higher loan-to-value ratios in their deals.

The real estate investment trust obtained a $1.35B mortgage from four banks on a portfolio of 38 properties in the U.S. and pledge of cash and insurance on another 12 in Puerto Rico.

The Trepp CMBS Delinquency Rate is now 4.51%, a decrease of 32 basis points from the January level; only the multifamily subindex experienced a rise in late payments.

It has obtained a $1.4 billion mortgage from four banks on a portfolio of 27 buildings that were previously securitized in a 2016 transaction, according to rating agency reports.