May 27, 2004 | Vol. 1 No. 4

05/27/2004 Issue

Member Log In:

E-mail Address

Password

Remember me on this computer

Volume 1 - Number 4 | May 27, 2004

TOP STORY: Proposed New ABS Rules Could Hit Industry Hard
SEC Filings Will Be Scrutinized

Industry lawyers are finding some significant cause for concern over a set of new regulations for asset-backed securities recently proposed by the Securities and Exchange Commission.

INSIDER: Citigroup's Joe Franzetti
When the Commercial Mortgage Securities Association officially turns 10 years old next week, the industry will have plenty to celebrate, says Joseph Franzetti, outgoing president of the organization.

Health Care Loans Unlikely To Return To CMBS Pools Soon
Years after changes in federal health care reimbursement levels helped wreck the economics of health care properties, health care loans still haven’t returned to CMBS pools. Don't hold your breath.

Rising Rates Spur Tougher CMBS Competition
It’s the oldest story in capitalism: more profit attracts more competition, more competition creates less profit. To an extent, that may be what’s happening in CMBS today, but with some added wrinkles created by rising interest rates.

What's Hot, What's Not
What's Hot: Retranching Fat CMBS Classes: Fitch Ratings analyst Robert Vrchota tells CMBS forum that there are currently 37 seasoned transactions with a significant gap between the rating of a large subordinate class and that of the next most senior class. "These all have the potential for retranching," he says.

Front & Center: Banc of America...Eurohypo...Barclays Capital

Deals: Lehman Brothers + UBS Securities...Credit Suisse First Boston