Finance

Many sectors of the market are rallying, investors have returned, enthusiasm is running

Spreads on asset-backed securities narrowed sharply across the board in 2012; as justified as this was, some sectors are already looking rich, according to participants at the ASF 2013 conference.

The Basel Committee’s decision to allow banks to include highly rated residential mortgage bonds into the calculation of a new liquidity coverage ratio is good news, at least for European banks.

The narrative in Hollywood films tends to follow a three-act boilerplate — certain things happen to the protagonist at specific points over the course of the movie.

The delinquency rate of securitized commercial real estate loans dropped sharply in January down to the lowest level in 11 months mostly due to improvements in the performance of multifamily loans.

Fitch Ratings anticipates a “moderate” amount of call activity in the collateralized loan obligation market as players take advantage of cheaper funding costs available for new deals.

JP Morgan and Credit Suisse are said to be planning RMBS deals.

Southern Company’s Mississippi Power plans to do a utility securitization to recover the financing costs related to construction of its $3 billion coal-gasification power plant Kemper County.

Fitch Ratings said today that CMBS special servicers have adapted new policies and procedures for reporting financial statements to the master servicer as a measure to increase transparency in loan modifications.

CIFC manages the largest number of collateralized loan obligations in the U.S., according to the latest ranking published by Moodys Investors Service.

Dedicated funds have proved crucial to the develop of CAT bonds and they will remain so

Extended Stay issued the $350million, floating rate component of its $2.5 billion single borrower CMBS deal this week at pricing spreads that fell within guidance.

Freddie Mac plans to issue its second multi-family CMBS of 2013, a $1.3 billion transaction called FREMF 2013-K25.

Bank of America Merrill Lynch and Morgan Stanley plan to issue a $1.14 billion CMBS conduit, MSBAM 2013-C8.

After last year’s false start, the GSEs plan to introduce risk-sharing bonds this year.

Do not expect much securitization activity out of Europe this year, said participants in a panel at the American Securitization Forum’s 2013 conference.

The U.S. housing market and consumer are looking much healthier and there are reasons to believe they will only get stronger.

Regulators risk stifling a recovery in the securitization market if they subject privately offered securities to the same disclosure and reporting requirements as public offerings.

RBS Securities plans a $295 million single borrower CMBS backed by a loan secured by the Shops at Mission Viejo called RBS Commercial Funding Inc. 2013-SMV Trust.