Commercial MBS


Ciitgroup Launches 1st Conduit CMBS of the Week

The $1.025 billion Commercial Mortgage Trust 2017-P7 relies on the "L" shaped risk retention strategy; Citigroup will retain 2.2% of the deal through vertical stake and Rialto Capital will hold another 7.7%

Latest JCPenney Closures Impact 13 CMBS

The impact on futures indexes was minimal, which caused them to rally. early reaction was most significant in CMBX 6 and 7 BBs, which tightened by 19 basis point and 24 basis points, respectively.

Capital Automotive Preps $900M CMBS Backed by Dealerships

The deal is collateralized by 163 properties that the sponsor has acquired and leased back to 44 dealer groups; these leases are “triple-net,” meaning the tenant is required to pay all property-level expenses.

LSTAR Returns to CMBS Market with $758M Deal

The deal is collateralized by 29 loans secured by 32 properties, all of them originated by LSTAR, an affiliate of Lone Star Funds, a global private equity firm.

Banks to Trump: Spare Affordable Housing Programs

Bankers and housing advocates say many low-income housing projects simply won't get built if the White House and Congress move to eliminate two federal block grant programs



Reg AB II Returns from Limbo

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, it’s not clear exactly what the Commission will do.

Finra Files Proposal to Disseminate Price Data

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.

Editor's Letter

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.

People on the Move

DFG Taps Goldman Vet, Barclays Bulks Up on CMBS, Ares Adds Jeffrey Kramer and the ASF Retains Mike Williams as Policy Adviser

Silver Lining

Could higher yields end up deepening the investor base for asset-backeds?


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Shift from Leases to Loans Is Powering Solar Securitization

Owning may offer consumers more savings than leasing, but loans pose a different set of risks to investors when pooled into collateral for bonds.

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