... sale of commercial-mortgage-backed securities, or CMBS, through a major rescue program called the Term ... quot; risks associated with having to pool together loans from many borrowers. Other CMBS deals in the pipeline include those by Inland Western Retail ... property's value because the debt could be easily sold as CMBS. But not everyone is going to benefit from the TALF program. Tight restrictions ...

... 24 months are likely to cause rating downgrades for seasoned U.S. CMBS deals, according to Fitch Ratings. With recent vintage ... to perform better from a ratings standpoint, ‘it is now evident that all CMBS vintages are susceptible to the severe economic conditions ... digits by 2012. Fitch has already accounted for this scenario in its CMBS rating criteria, which should result in limited rating ...

... bonds with new conservatively underwritten loans, Treasury & Federal Reserve want the new issue CMBS market to start, borrowers certainly want to take out new loans to refinance maturing loans, and yet, four months after the Treasury launched the program, not one new issue CMBS deal has come to the market. This highlights the chicken-and-egg type problem that the CMBS market faces ...

The US securitization industry is looking for a pick-up in commercial mortgage-backed securities (CMBS) activity with a possible wave of new issuance made possible by a federal lending program, while the European CMBS market remains pressured. The deals would appear later this month through the Federal Reserve’s CMBS-eligible Term Asset-Backed Securities Loan Facility (TALF) for new

... primed by additional layer of debt which get a first look on assets in the case of liquidation). Which is why today's announcement by Fitch that CMBS loss severity is expected to risk markedly next year should be viewed with extreme caution... Zero Hedge: Fitch Expects CMBS Loss Severity To Rise Markedly Next Year

Fortress may do first new CMBS for TALF - report Reuters The program is aimed at resuscitating lending in commercial real estate, where defaults are rising due partly to a lack of credit. Proceeds would be used to ... Fed sets next TALF CMBS subscription deadlineReuters all 17 news articles »