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The volatility pushed whole loan spreads wider and brought single-asset single-borrower commercial mortgage-backed securitization to a halt as lenders waited for clarity.
June 4 -
The riskiest portion of the securitization, worth $65 million was wiped out earlier this month after the loan's sale left just $164 million to distribute to creditors.
May 27 -
The market for estate loans packaged into debt slowed dramatically after the Federal Reserve sharply raised interest rates in 2022.
May 14 -
Oxford requires that 91% of the supporting loans have interest payments on a floating rate index or a floating rate option, but new loans face requirements to mitigate the risks of yield shortfalls.
May 8 -
The property is competitive, with overall sales of about $570 million in 2021, but the deal is short on upfront reserves to cover outstanding landlord obligations, like free/gap rent.
April 9 -
As the risk of a recession rises, commercial real estate loans remain a major concern for banks and industry participants. One observer asked: "Is '25 the year where sellers start to capitulate, call a loser a loser, and move on?"
April 3 -
Sabey 2025-2 will feature a $24.8 million liquidity reserve among other credit enhancement mechanisms, including cash trap and early amortization triggers.
March 27 -
Borrowers are considered prime in this pool, but Fitch Ratings notes that delinquency rates have been increasing since 2022.
March 21 -
The pass-through certificates are supported by a full pool of amortizing loans, which have no interest-only periods.
March 12 -
A set of performance-related triggers—cash trapping and expense reserve—will help maintain cash flow to the notes.
March 10