Moody's Investors Service has named Nicholas Levidy and Paolo Obias, who were previously senior vice presidents, to the positions of managing directors within its commercial mortgage-backed securities group. Levidy, who joined Moody's in 1998, was formerly a senior counsel for real estate and corporate finance with PNC Bank, and also served as a real estate attorney for several government agencies and private law firms. Obias, who joined Moody's in 1997 and worked in the Tokyo office for several years, previously held positions with two Indonesian real estate firms. Levidy will continue to report to Tad Philipp, co-head of Moody's U.S. CMBS group, and Obias will continue to report to Jim Duca, the other co-head of the group. Both promotions are effective immediately.
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Spreads ranging from 16-18 basis points over the three-month, interpolated yield curve on the P1 (Moody's) and F1+ (Fitch) notes, to 160 to 170 over the benchmark on the class D notes.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Broken down by product type, the agency's NJCLASS Standard Fixed product should account for a large majority of the loans, 75.4%. NJCLASS Consolidation will account for the next-largest group, 14.1%.
April 24 -
Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
April 24 -
The notes will price against Treasurys, with spreads expected to fall between 85 and 90 basis points over the benchmark.
April 24 -
The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
April 24