President-elect Donald Trumps pick for Treasury secretary said he did not support a plan known as recap and release for returning Fannie Mae and Freddie Mac to the private sector, clarifying earlier remarks that had caused confusion about the incoming administrations housing finance agenda.
Christian Aufsatz was named managing director and head of European structured finance operations; he was previously in charge of commercial mortgage backed securities ratings.
The 27 survey participants (including two new lenders) added $21.5 billion of new mortgages in first-half 2016. That was a $1.7-billion increase over the prior year, according to the CRE Finance Council and Trepp..
A survey by the Mortgage Bankers Association last month indicates that nearly two-thirds (63%) expect originations to increase in 2017, with one-quarter (26%) expecting an increase of 5% or more.
The delinquency rate for U.S. commercial real estate loans in CMBS is now 5.23%, an increase of 20 basis points since November.
Regulation AB governs registration, reporting and disclosure requirements for all things asset-backed. The Securities and Exchange Commission appears to be ready to update it significantly, but, nearly four years after changes were originally proposed, its not clear exactly what the Commission will do.
The proposal would introduce dissemination of trade prices for securities ranging from highly liquid credit card and auto ABS to smaller and more esoteric deals in asset classes such as time shares, to commercial mortgage-backed securities (CMBS) and highly structured CDOs and collateralized loan obligations.
As July came to a close, it was clear to everyone at ASR that the structured finance market was not about to take a vacation.
DFG Taps Goldman Vet, Barclays Bulks Up on CMBS, Ares Adds Jeffrey Kramer and the ASF Retains Mike Williams as Policy Adviser
Could higher yields end up deepening the investor base for asset-backeds?
Treasurer, Head of Asset Management
Firm: NewStar Financial
The wireless carrier, though only rated single-B, has more leeway from existing investors to enter into a transaction like this than even some investment-grade companies.Current Issue