CMBS

Fitch Ratings warned Friday that it has been “surprised” to see an increasing number of requests by borrowers to change the terms of loans backing mortgage bonds shortly after securitization.

Morgan Stanley and UBS’ latest offering of commercial mortgage bonds is most notable for what it lacks: a large number of loans with very high leverage.

.Yet another offering of commercial mortgage securitization is getting some ratings juice from an investment grade property on Madison Avenue in New York City, but this time it’s a different address.

A swaps rule set to take effect in 2016 could make it securitization more expensive, raising funding costs for businesses and consumers.

Wells Faro is marketing $774 million of securities backed by a pool of 62 commercial mortgage loans that are in turn secured by 73 properties.

Invitation Homes chose to exercise an option to extend the term of a loan backing the first single family rental securitization.

Goldman Sachs and Cantor Fitzgerald's next conduit securitization will depend on 590 Madison Avenue to boost the credit credentials of its collateral pool.

Several private-equity-backed lenders are making loans to small landlords, who represent the biggest chunk of the home-rental market and get less help from Fannie and Freddie than they once did.

Lone Star plans to tap the securitization market with a portfolio of commercial real estate assets it acquired this year from real estate investment trusts, according to Fitch Ratings.