In addition to a significant increase in CLO refinancing and restructuring, issuance of new CRE deals was up smartly in the third quarter. (Includes two data tables.)
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When times turn tough, some mortgage REITs start cutting the dividends they pay shareholders, but not all. Meanwhile, book values are getting slammed. A time to buy these equities or sit on the sidelines?
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CAS, STACRs, CIRT and ACIS volume were all down sharply during the first nine months as origination volume continued to decline. (Includes data table.)
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Esoteric ABS provide stronger yields than traditional ABS. In exchange, investors face greater liquidity risk and some unknowns on future performance.
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Commercial MBS issuers that source loans from affiliated lenders have lower rate spreads when compared to CMBS pooled by investment banks with loans from third-party lenders.
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HUD IG launches inquiry into Ginnie’s handling of Reverse Mortgage Funding’s bankruptcy; DBRS revises rating criteria for commercial MBS; WeWork exposure in commercial MBS; another record profit for Farmer Mac; ETF targets newer agency MBS.
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