CMBS

Defaults on commercial mortgage-backed securities declined for the fifth straight year in 2015, according to Fitch Ratings.

Citigroup and Goldman Sachs are marketing commercial mortgage bonds with unusually heavy exposure to hotels, considered to be one of the riskier property types.

A growing number of ABS professionals expect credit quality to decline and underwriting standards to tighten this year, according to a survey released Tuesday by Capital One Bank.

Deutsche Bank and JPMorgan are marketing $818 million of commercial mortgage bonds, with heavy exposure to New York City, according to Fitch Ratings.

JPMorgan Chase has packaged a highly concentrated portfolio of five office, hotel and retail property mortgages totaling $337 million.

A trio of private commercial mortgage veterans announced the launch of Shelby Funding in Boca Raton, Florida.

Citigroup and Goldman Sachs are marketing nearly $2 billion of bonds backed by commercial mortgages used to facilitate Blackstone Real Estate Partners VIII’s acquisition of BioMed Realty Trust.

Issuance of bonds backed by aircraft leases is booming as airlines turn to lessors to fill gaps in their fast-expanding fleets in response to falling energy prices and rising passenger traffic. They are increasingly booking the older, less fuel-efficient airplanes in lessor’s fleets, which can now be operated profitably.

Wells Fargo is securitizing $712 million in commercial mortgages with heavy exposure to offices and self-storage facilities. The collateral is also less heavily concentrated compared to other CMBS deals covered by Fitch Ratings.

Total commercial and multifamily mortgage debt outstanding increased in the fourth quarter of 2015, according to the Mortgage Bankers Association.