Although all 13 firms reported positive earnings on their origination and sales activity, many noted that production-related revenue did not keep pace...
The application of capital requirements to MBS and other structured finance products in the coming years will likely trump any typical collateral analysis investors currently consider, according to analysts at Standard & Poor’s. In a report published late last week, the analysts said global capital requirements have the potential to become impediments to providing financing via securitized products. “Of particular investor focus recently are...
Moody’s Investors Service late last week proposed changes to how it rates commercial MBS. The rating service, which has been lagging in rating the type of deals subject to the revision, said the changes will result in upgrades and more positive treatment of loans with high loan-to-value ratios. Moody’s proposed to recalibrate its benchmark LTV ratios and “refine” how adjustments are made to benchmark LTV ratios. The proposal would allow for lower subordination requirements. The changes would apply to ratings of multi-borrower large loan commercial MBS and single asset/single borrower commercial MBS. “The main objective of the proposed changes for North American securitizations is...
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