CMBS

Deutsche Bank priced t the $479 million Invitation Homes 2013-SFR1 REO-to-rental securitization 5 basis points to 35 basis points tighter than initial guidance, a person familiar with the deal confirmed.

The largest tranche, for $327 million, priced at 108 basis points over swaps a bit outside the price talk of 95-100 basis points.

The latest two commercial mortgage securitizations to join the new-issue pipeline couldn’t be much more different.

Trepp’s CMBS delinquency rate hit a new low of 8% in October, a level this asset class hasn’t seen since early 2010.

Direct exposure to either J.C. Penney or Sears is typically highest in seasoned deals where there are only a small number of loans remaining, and one is secured by a retail property.

Goldman Sachs, Citigroup and Jefferies have announced a $997.9 million CMBS conduit called GSMS 2013-GCJ16.

Bank of America Merrill Lynch plans to issue a $345 million hotel CMBS that is backed by two commercial mortgage interest only loans secured by the Walt Disney World Swan & Dolphin Resort.

RBS Securities and Wells Fargo plan to issue a $796.9 million CMBS conduit deal dubbed WFRBS 2013-C17.