Delinquencies are rising on commercial MBS, driven by office properties. Losses are expected to follow and it could be years before the situation improves.
The case against UBS Securities will determine whether the antiretaliation provision of the Sarbanes-Oxley Act requires a whistleblower to prove “retaliatory intent.”
If the National Flood Insurance Program is allowed to lapse mid-November, the impact could extend beyond single-family lending, the Congressional Research Service has warned.
NPL securitizations may help asset managers shore up their liquidity in the face of rising delinquencies on commercial MBS. While uncommon, a handful of commercial NPL securitizations were issued between 2013 and 2017.
The GSEs effectively ended commingling of collateral in Supers securitizations last year. Despite a sharp reduction in the commingling fee, there was only a modest rebound in the practice in the second quarter. (Includes two data charts.)
Most residential MBS and commercial MBS have limited exposure to the hurricane; the FDIC is working to sell Signature Bank’s $33 billion portfolio of commercial mortgages; DBRS ready to rate residential transition loan MBS; MISMO seeking comments on ESG materials.
Most of the gain in commercial mortgage securitization during the second quarter came from agency multifamily MBS, and the non-agency sector continues to face significant challenges. (Includes two data charts.)
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