American Mortgage Acceptance Co. has acquired about $35.6 million of commercial mortgage-backed securities from a Chase Manhattan Bank-First Union National Bank commercial trust as part of a strategy to align itself with ARCap Investors LLC, a privately held real estate finance company. The deal was financed with $16 million of equity and $19.6 million from a repurchased facility. The BB+ rated bonds have a term of about 13 years and are secured by 205 mortgages on 217 multifamily, retail and other commercial properties.

Loy Saguil, a commercial mortgage-backed securities researcher at CIBC Oppenheimer, has left his position with the company sometime last week, officials from the company stated.

Glenn Riis has joined Chase Manhattan's Commercial Mortgage Backed Securities group as a vice president. He will be responsible for the trading of CMBS. He most recently held a similar position at Merrill Lynch & Co.

Deutsche Bank has recently launched MBS Autobahn, a service that allows its clients to trade mortgage-backed securities over the Internet. Deutsche Bank is the first Wall Street bank to offer such services. Its current electronic MBS service, which is Bloomberg-based, is currently being phased out, because the bank noted that many of its customers do not have access to Bloomberg. MBS Autobahn requires the use of a user name and password and offers real-time trading of Freddie Mac, Fannie Mae and Ginnie Mae 15 and 30-year passthroughs. The service will be targeted to large money mangers, insurance companies, mortgage bankers and regional broker-dealers.

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