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CMBS Gets a Stress Test
Jun 10, 2008
How bad can it get for commercial mortgage-backed securities in the event of a recession in the U.S.? ...
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S&P Reviewing CMBS for Possible Downgrades
Jun 6, 2008
After enduring a round of downgrades on residential subprime-mortgage backed bonds, at least one credit-rating agency is trying to avoid similar fallout on the commercial mortgage side. ...
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A Mark-to-Market Malaise
Jun 1, 2008
Investors show little appetite for commercial mortgage-backed securities (CMBS) these days despite some enticing deals on the menu. With only $9.9 billion...
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Will CMBS Recovery Trigger a Pricing Backlash?
May 29, 2008
The market for commercial mortgage-backed securities (CMBS) will begin to recover when issuers and bond buyers agree on pricing, probably late this year or early in 2009, observers say....
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Paralyzed CMBS Market Wiggles a Toe
Mar 1, 2008
A $1.2 billion commercial mortgage-backed securities (CMBS) offering typically doesn't merit major headlines, but this year's bond market is atypical....
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Agencies at Odds on CMBS Delinquencies
Feb 14, 2008
Valentine’s Day brought more evidence that illiquidity in the CMBS market has little to do with current loan performance: A report from Fitch Ratings revealed that U.S. CMBS delinquencies fell by one basis point to a historical low of 0.27% in January....
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CMBS Investors Eye First-Quarter Logjam
Feb 12, 2008
January ended on an ominous note for the nation’s commercial mortgage-backed securities (CMBS) market. For the first time in its 20-year history, not a single securitization issuance was priced in a one-month period, though the pipeline is full of some $37 billion of issues....
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Deep Freeze
Feb 1, 2008
The credit crisis that started last year with revelations of suspect underwriting in the residential subprime mortgage market and led to more than $100...
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CMBS Market Throttles Down
Jan 1, 2008
Prepare for a much leaner and meaner commercial mortgage-backed securities market in 2008. Domestic CMBS issuance this year is expected to drop by more...
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Credit Bears Romp
Nov 1, 2007
It sure is tough to be a bull these days. One ominous signal: On Oct. 19, exactly 20 years after the Black Monday stock market crash, the Dow Jones Industrial...
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CMBS Downgrades On The Rise: Fitch
Oct 31, 2007
The frequency of U.S. CMBS rating actions - upgrades in particular - may fall in the coming year, according to new report from Fitch Ratings...
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Apartment Loans, Vintage CMBS Delinquencies Rise
Oct 23, 2007
Delinquencies among both multifamily loans of varying vintage and 2005 vintage commercial mortgage-backed securities (CMBS) increased for the third straight month in September...
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Some Good News For CRE CDO Market: Fitch
Oct 3, 2007
Credit metrics should remain stable for U.S. commercial real estate collateralized debt obligations (CRE CDOs) well into next year despite fewer upgrades, reports Fitch Ratings...
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Investor Timeout
Oct 1, 2007
After 17 straight rate increases, the Federal Reserve felt compelled to do something radical an about-face. To help jump-start the economy and assuage...
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Job Losses: Bitter Pill to Swallow
Oct 1, 2007
The net loss of 4,000 jobs in August took the nation by surprise when the figures were released by the Bureau of Labor Statistics on Sept. 7 and reinforced...
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A CMBS and CDO Primer
Oct 1, 2007
The commercial mortgage market faces one of its toughest credit climates in more than a decade. The most complex corners of the securitized mortgage market...
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Loan Delinquency Spike Raises Red Flag
Sep 1, 2007
Rating agencies have been sounding alarm bells over aggressive underwriting in commercial mortgage-backed securities for more than a year, but until recently...
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Changing Winds in CMBS Market
Jun 1, 2007
While the commercial mortgage-backed securities marketplace has been on a record-breaking tear for several years, CMBS investors have become quite a skittish bunch of late....
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Wall Street Rides CDO Wave
Nov 1, 2006
Property owners and operators have been tapping Wall Street and private real estate investment funds in ever increasing numbers to finance unstabilized or outside the box deals...
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