A conflict is brewing between the servicers and the borrower of loans securitized over two European commercial mortgage securitizations, the €1.11 billion ($1.4 billion) Fleet Street Finance Three and the €1.3 billion ($1.7 billion) Windermere IX.
The European Union says its Eurostat statistics agency will decide on a case-by-case basis whether to allow member states to include nationalized bad-bank asset on their government’s balance sheets.
The European commercial mortgage-backed securities market lags behind the U.S. by up to five years.
Steve Cooper, the head of Barclays small-business division, says his bank refuses to sign on to lending targets urged by the U.K. government.
The U.K. Council of Mortgage Lenders has revised down the number of property repossessions and borrowers in arrears expected in 2010, thanks to declines in the second quarter.
Hypo Real Estate, the German lender, expects to complete the move of its EUR 210 billion ($270 billion) in toxic assets to a bad bank in the fourth quarter, pending approval by the European Union.
Cantor Fitzgerald has again expanded its European operations with the addition of three new members to its high-yield and leveraged finance team.
Christian Aufsatz, London-based commercial real estate v.p. at Moody’s Investors Service, has joined Barclays Capital’s research team.
Grubb & Ellis has hired Steven Roberts, a longtime executive in Citigroup’s commercial real estate lending group, as a senior managing director in debt and equity finance.
The four largest commercial banks in the U.S. have boosted the money they put aside for the repurchase of bad mortgages from Fannie Mae and Freddie Mac.
--Jan Westra, funding risk manager at Obvion Hypotheken, on his expectation that the firm's new E909 million RMBS deal will launch and price easily.