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Volume 2017 - Number 31

August 11, 2017

Direct Issuance Transactions Can Become a Viable Alternative Model for CMBS Deals, Expert Says

In the new world of risk retention and commercial real estate securitization, direct issuance could be a potential financing alternative should third-party risk-retention capital become inadequate to meet demand, according to a CRE debt market expert. Direct issuance and other alternative types of transactions may become increasingly viable in addressing the difficulty of refreshing on an ongoing basis the amount of capital necessary to float the commercial MBS industry, said Rick Jones, a partner with Dechert and co-chair of the firm’s finance and real estate group. Jones cited...

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.



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With mortgage production down noticeably this year from 2017, how many lenders might disappear via M&A or failure during the next 12 months?

10% or less. It’s not that bad out there.
11% to 25%. It’s a challenging market.
25% to 40%. It’s going to be very ugly.
No opinion.

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