Within the CMBS marketplace, 10Y AAA CMBS now appear cheap vs. AA, A and BBB classes due to the flattening of the yield curve. However, 10Y AAA CMBS still remain -1.62 standard deviations rich to 5Y AAAs with only a one bp spread differential between the 5Y and 10Y AAA classes. The best relative value within the CMBS market can be found within those sectors with mispriced’ optionality. To wit, despite the relative cheapness of new-issue 5Y AAAs and the tightening in PAC IOs, continues to hold that there is better value in PAC IOs.
-
The fixed-rate loans are divided into three sub-pools that relied on rating methods from the RMBS, CMBS and ABS sectors to assess their risks.
55m ago -
The House Financial Services Committee also sent to the full House two bipartisan bills, including one that would prevent large banks from opting out of having to recognize Accumulated Other Comprehensive Income in regulatory capital.
6h ago -
The portfolio does not have any meaningful originations that have completed a full repayment cycle, making the company's performance data thin.
7h ago -
Formerly of Wells Fargo, she will coordinate several key units to create a structure for a sustained capital markets program that capitalizes on recent innovation and growth in home equity finance.
April 17 -
The Structured Finance Association questions whether funding closed-end seconds is an appropriate role for the government-sponsored enterprise, while newer lenders welcome the liquidity support.
April 17 -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
April 17