Saw a note circulated today, but no additional news since. It's in BACM 2007-1 and BACM 2007-2.
Of course, 11 months ago it was "imminent" too...
CoStar's People of Note (May 19 - 25)
1 day ago
The era of broad negative mortgage-backed securities ratings from Fitch Ratings is over. Sans a "few pockets of weakness," RMBS and CMBS downgrades will diminish significantly, the agency said this week.
Despite persistently high unemployment levels and projections of a slow economic recovery, Fitch expects downgrades to be more incremental in nature, seen by notches and not rating categories.
Fitch projects prime RMBS and most CMBS to be among the categories that demonstrate strong performance, even if economic trends deteriorate modestly.
"New transactions issued over the next 12 months across all of structured finance will be more conservatively structured and demonstrate superior performance compared to past vintages," says Kevin Duignan, group managing director and head of U.S. structured finance for Fitch.
|A||$ 100.00||3.34||5.08||2/11- 3/23|
|AB||$ 90.00||2.11||2.52||2/11- 2/15||N+65||101-00|
|AC||$ 115.00||3.96||7.08||2/15- 3/23|
|Z||$ 17.20||3.962||18.59||11/24- 4/53|
|IO||$ 319.00||0.718||5.42||2/11- 3/49|
Deutsche Bank and UBS are teaming up to issue as much as $2.5 billion in commercial mortgage-backed securities linked to loans on office buildings, shopping malls and hotels in what would be the largest offering of its kind since the market froze in June 2008, according to a person familiar with the deal. JPMorgan plans to sell $1.5 billion in similar debt, a person familiar with that sale said.
“CIC is very bullish on investing in real estate in the U.S.,” as are major Chinese banks, Jeffrey Lenobel, chairman of the real estate group at the New York law firm Schulte Roth & Zabel LLP, said in a telephone interview. “There is every reason to think you will see them together more often.” ...
CIC acquired a 7.6 percent stake in General Growth Properties Inc. in November through a fund manager that participated in the bankruptcy reorganization for the second- largest U.S. mall owner. A CIC subsidiary holds a controlling stake in Beijing’s Bank of China Ltd., which agreed in November to lend investors $800 million to refinance an office building on Manhattan’s Park Avenue.
“CIC has always wanted to get into the overseas real estate market and they are looking for opportunities in big cities,” said Paul Lin, a Beijing-based director of research for Knight Frank. “CIC is very powerful but it won’t be very aggressive. I don’t think it’s aiming to take over half of Manhattan.”