The use of LIBOR as an index is slated to end in just under 13 months but the benchmark administrator has other ideas. One issue: legacy contracts.

Democrats said the Treasury’s decision to end the TALF facility at the end of the year was a political move to prevent the incoming Biden administration from stabilizing the economy.

As president, Joe Biden will have to negotiate with both sides of Congress, limiting sweeping policy changes, according to industry analysts.

Due to the resurgence in coronavirus infections, recovery in the travel and hotel sectors will be even slower than what was expected a few months ago.

The Toronto-based alternative asset manager is tapping the commercial MBS market to finance part of its acquisition of a hotel portfolio.

Non-agency CMBS issuance doubled from the second to the third quarter, but production remained well below 2019 levels. Agency multifamily MBS set a record. (Includes data chart.)

The delinquency rate for commercial MBS continued to improve in September, but the “special servicing” rate surged to a seven-year high, signaling that economic fallout from the pandemic is still festering.

KBRA was accused of getting sloppy on due diligence tied to CMBS and CLO deals. Without admitting wrongdoing, the rating agency agreed to pay $2 million-plus.

While the delinquency rate for office property CMBS has (so far) been contained, the acceleration of the work-from-home trend may reduce demand for office space and increase cash flow volatility.

But that’s easier said than done. The CMBS structure prohibits borrowers from taking on additional debt and includes a prepayment penalty clause, Federal Reserve Chair Jerome Powell pointed out.