While Fannie, Freddie and Ginnie continued to dominate the business of securitizing income-property mortgages, issuance of non-agency CMBS gained ground in 2019 thanks to significant increases in office, industrial and multifamily transactions.
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To avoid retaining risk in securitization deals, mortgage lenders are joining hands with investors who act as “co-sponsors” and take on the first-loss position.
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Radian has pulled the plug on its experiment in the due diligence arena by selling Clayton Services. The unit’s new owner, Covius, is bullish on its prospects.
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Fannie and Freddie should report blowout earnings for the fourth quarter. How’s that? Strong securitization volumes and no negative hedging results.
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The New York Department of Financial Services has asked financial institutions to accelerate LIBOR transition and submit plans for addressing the risks associated with moving to an alternative benchmark rate.
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The current standard language in leveraged loan documents may expose issuers to heightened credit risk and a spike in debt service costs when LIBOR is no longer viable, according to Fitch Ratings.
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Issuance of aircraft-related ABS is expected to shoot up in the coming years but industry analysts are warning about potential performance issues. Fitch said it’s taking a cautious approach to rating new deals.
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