Finance

Buysiders speaking at an investor roundtable panel said that understanding ABS collateral is key to structured finance recovery.

Despite the overall struggles and uncertainty of the mortgage industry in recent years, mortgage real estate investment trusts (REITs) enjoy a unique advantage over both banks and other non-bank entities, according to a report by Morrison Foerster.

Recent data on macroeconomic forces in the market, such as lower than anticipated GDP and consumer confidence, have and will continue to play a large part in redefining expected future growth in commercial real estate, said panelists speaking at the CRE Finance Council's (CREFC) annual June convention in New York City.

At one of the panels at the Global ABS 2011 conference being held in Brussels this week, participants discussed the new data disclosure requirements from the European Central Bank (ECB).

There remains value in certain European ABS sectors despite their risk profile, said panelists at the Association for Financial Markets in Europe’s (AFME) and the Information Management Network’s Global ABS 2011 conference being held in Brussels this week.

The CRE Finance Council today announce the appointment of Jack M. Cohen as President of CREFC.

The epic destruction wrought by the Japanese earthquake and tsunami last March should not have a direct effect on the credit quality of Japanese REITs (J-REITs), Standard & Poor’s said in a report.

Sapient Global Markets and Standard and Poor’s Valuation and Risk Strategies (S&P VRS) announced their formal partnership in a statement today.

Moody’s Investor Service called for increased disclosure of both the type and volume of U.K. loan modifications and arrears capitalization.

Barclays Capital economists have revised their projections for the European Central Bank (ECB) base rate and now expect a 25 basis point rate increase in July, taking the policy rate to 1.50%. The ECB also said that another 25 basis point rate hike is likely in December.

Recent Fitch Ratings’ “unsolicited assessment” of the DECO 2011-CSPK CMBS deal is an example of the harsh penalties sponsors face for ‘rating shopping’, Royal Bank of Scotland (RBS) analysts said in a recent report.

The second half of 2011 will bring a very active RMBS issuance pipeline for public and private placement, although this will focus on existing markets, according to Neil Shah, managing director and head of Moody’s Investors Service RMBS business in Europe, the Middle East and Africa (EMEA).

The rating performance of European small and medium-sized enterprise (SME) securitizations during the economic crisis are congruent with the macroeconomic environment, said a Moody's Investor Service report.

Lender Processing Services, Inc. has appointed Joe Jacquot as senior vice president of Government Affairs.

U.K. care home operator Southern Cross is in the middle of a financial restructuring that could affect several U.K. CMBS structures, according to a Barclays Capital report.

Global agribusiness and food company Bunge Limited recently closed a program for the securitization of its trade receivables to the tune of $700 million, according to a press release from Finacity Corporation, which was the program structurer and administrator.

DRBS has assigned provisional ratings to the DBUBS Series 2001-LC2 Commercial Pass-Through Certificates, which will be issued by DBUBS 2011-LC2 Mortgage Trust.

U.S. Subprime CDS prices more than doubled their increase from the previous month, rising 1.7% overall. According to the latest Fitch Solutions report, this brings the subprime rally to its unprecedented seventh consecutive month.

Goldman Sachs has launched a $301.5 million CLO to be managed by PineBridge Investments, according to sources.

VW Finance priced its €628.90 million ($916 million) auto loan ABS called Driver Espana. It's the issuer's first securitization of auto loan receivables originated by VW Finance within Spain.