CMBS

Invitation Homes' second securitization of single-family rentals is backed by properties with riskier tenancy, and it had to compensate investors accordingly.

Moody’s Investors Service said today that the lens for assessing credit risk in single-family rental securitizations (SFRs) backed by loans to multiple borrowers is different than the one used for SFRs backed by loans to single borrowers.

Barclays analysts believe the regulators will find it hard to ignore a call last week by the European Central Bank (ECB) and Bank of England (BoE) to ease the rules governing securitization activity in Europe.

The primary sponsors of commercial real estate collateralized debt obligations will continue to be mortgage REITs, according to JP Morgant.

Impending legislation renewing the federal backstop for terrorism insurance could pare down this safeguard, creating havoc in the market for commercial mortgage-backed securities; despite advances in modeling this risk, it may prove challenging for capital markets investors to pick up the slack.

American Residential Properties plans to raise $300 million in medium-term debt via a securitization of single family rental properties.

The Structured Finance Industry Group wants more time to evaluate proposed revisions to rules governing reporting and disclosure requirements for asset-backed securities.

Moody’s Investors Service threw its hat into the ring, publishing its ratings methodology on single-family home rental securitizations

Regulation AB governs registration, reporting and disclosure requirements for all things asset-backed. The Securities and Exchange Commission appears to be ready to update it significantly, but, nearly four years after changes were originally proposed, it’s not clear exactly what the Commission will do.