Commercial mortgage-backed security

KBRA Assigns Ratings to CSAIL 2021-C20

Retrieved on: 
Tuesday, March 30, 2021
Professional services, Finance, Finance, Money, Economy, Structured finance, Mortgage-backed security, Fixed-income securities, Corporate finance, Mortgage, Commercial mortgage-backed security, Commercial mortgage, Collateral, KBRA

Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of ratings to 14 classes of CSAIL 2021-C20, a $650.1 million CMBS conduit transaction collateralized by 28 commercial mortgage loans secured by 40 properties.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of ratings to 14 classes of CSAIL 2021-C20, a $650.1 million CMBS conduit transaction collateralized by 28 commercial mortgage loans secured by 40 properties.
  • The collateral properties are located throughout 21 MSAs, the largest three of which are New York (19.5%), Los Angeles (12.8%), and Atlanta (12.8%).
  • KBRA capitalization rates were applied to each assets KNCF to derive values that were, on an aggregate basis, 44.7% less than third party appraisal values.
  • To access ratings and relevant documents, click here .

Latest ESG Pulse Ratings Report Says Texas Storm Highlights Need For Preparedness Beyond The Pandemic

Retrieved on: 
Thursday, March 25, 2021
Structured finance, Financial markets, Mortgage-backed security, Finance, Commercial mortgage-backed security, Money, Credit rating agencies

In particular, February's U.S. storm, which left millions of homes in Texas without power, has highlighted companies' need to be prepared for the unexpected.

Key Points: 
  • In particular, February's U.S. storm, which left millions of homes in Texas without power, has highlighted companies' need to be prepared for the unexpected.
  • In "The ESG Pulse: Texas Storm Highlights Need For Preparedness," we show that environmental, social, and governance (ESG)-related rating actions over the first two months of 2021 totaled 118, of which 75 were rating downgrades.
  • Amid renewed waves of COVID-19 infections and the emergence of new variants, social-distancing restrictions triggered further downgrades to commercial mortgage-backed securities (CMBS).
  • Ratings information can also be found on S&P Global Ratings' public website byusing the Ratings search box located in the left column at www.standardandpoors.com .

KBRA Assigns Ratings to Benchmark 2021-B24

Retrieved on: 
Wednesday, March 24, 2021
Banking, Professional services, Finance, Finance, Money, Economy, Loans, Mortgage-backed security, Structured finance, Fixed-income securities, Commercial mortgage-backed security, Corporate finance, Commercial mortgage, Mortgage loan, Collateral

Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of ratings to 18 classes of Benchmark 2021-B24, a $1.2 billion CMBS conduit transaction collateralized by 40 commercial mortgage loans secured by 71 properties.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of ratings to 18 classes of Benchmark 2021-B24, a $1.2 billion CMBS conduit transaction collateralized by 40 commercial mortgage loans secured by 71 properties.
  • The collateral properties are located throughout 52 MSAs, the largest three of which are New York (22.1%), Palm Beach County (10.8%), and Las Vegas (6.9%).
  • KBRA capitalization rates were applied to each assets KNCF to derive values that were, on an aggregate basis, 44.7% less than third party appraisal values.
  • To access ratings and relevant documents, click here .

KBRA Assigns Preliminary Ratings to CSAIL 2021-C20

Retrieved on: 
Monday, March 15, 2021
Professional services, Commercial Building & Real Estate, Finance, Construction & Property, Consulting, Banking, Finance, Money, Economy, Structured finance, Mortgage-backed security, Fixed-income securities, Corporate finance, Mortgage, Commercial mortgage-backed security, Commercial mortgage, Collateral, KBRA

Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 17 classes of CSAIL 2021-C20, a $650.1 million CMBS conduit transaction collateralized by 28 commercial mortgage loans secured by 40 properties.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 17 classes of CSAIL 2021-C20, a $650.1 million CMBS conduit transaction collateralized by 28 commercial mortgage loans secured by 40 properties.
  • The collateral properties are located throughout 21 MSAs, the largest three of which are New York (19.5%), Los Angeles (12.8%), and Atlanta (12.8%).
  • KBRA capitalization rates were applied to each assets KNCF to derive values that were, on an aggregate basis, 44.7% less than third party appraisal values.
  • To access ratings and relevant documents, click here .

Ellington Financial Inc. Completes $251.8 Million Non-QM Loan Securitization

Retrieved on: 
Wednesday, March 3, 2021
Residential Building & Real Estate, Construction & Property, Professional services, Finance, Finance, Money, Financial markets, Structured finance, United States housing bubble, Fixed-income securities, Mortgage-backed security, Financial law, Securitization, Ellington Management Group, Asset-backed security, Commercial mortgage-backed security, Ellington Financial Inc., LendSure Mortgage Corp.

Ellington Financial Inc. (NYSE: EFC) (the "Company") announced today that it has closed a $251.8 million securitization backed by a pool of non-qualified residential mortgage (non-QM) loans.

Key Points: 
  • Ellington Financial Inc. (NYSE: EFC) (the "Company") announced today that it has closed a $251.8 million securitization backed by a pool of non-qualified residential mortgage (non-QM) loans.
  • The securitization was rated by both S&P and KBRA, with the senior tranche receiving AAA ratings.
  • Ellington Financial invests in a diverse array of financial assets, including residential and commercial mortgage loans, residential and commercial mortgage-backed securities, consumer loans and asset-backed securities backed by consumer loans, collateralized loan obligations, non-mortgage and mortgage-related derivatives, equity investments in loan origination companies, and other strategic investments.
  • Ellington Financial is externally managed and advised by Ellington Financial Management LLC, an affiliate of Ellington Management Group, L.L.C.

Trepp CMBS Delinquency Rate Plunges in February for Eighth Monthly Decline; Hotel and Retail Rebound Accelerates

Retrieved on: 
Wednesday, March 3, 2021
Mortgage-backed security, Structured finance, Trepp, Commercial mortgage-backed security

The Trepp CMBS Delinquency Rate in February was 6.80%, a decline of 78 basis points from the January number, which is the biggest drop over the last eight months.

Key Points: 
  • The Trepp CMBS Delinquency Rate in February was 6.80%, a decline of 78 basis points from the January number, which is the biggest drop over the last eight months.
  • The percentage of loans in the 30 days delinquent bucket is 0.58%, which is down 16 basis points for the month.
  • "The acceleration of the improvement in the delinquency rate, with retail and lodging both showing notable declines, can be seen as a positive sign for the market, said Catherine Liu, Trepp Associate Research Manager.
  • Trepp wholly-owns Commercial Real Estate Direct, the source for high-end news and information to professionals in the CRE industry.

KBRA Assigns Preliminary Ratings to Benchmark 2021-B24

Retrieved on: 
Monday, March 1, 2021
Professional services, Other Construction & Property, Residential Building & Real Estate, Commercial Building & Real Estate, Finance, Construction & Property, Finance, Money, Economy, Loans, Mortgage-backed security, Structured finance, Fixed-income securities, Commercial mortgage-backed security, Corporate finance, Commercial mortgage, Mortgage loan, Collateral

Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 18 classes of Benchmark 2021-B24, a $1.2 billion CMBS conduit transaction collateralized by 40 commercial mortgage loans secured by 71 properties.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 18 classes of Benchmark 2021-B24, a $1.2 billion CMBS conduit transaction collateralized by 40 commercial mortgage loans secured by 71 properties.
  • The collateral properties are located throughout 52 MSAs, the largest three of which are New York (22.1%), Palm Beach County (10.8%), and Las Vegas (6.9%).
  • KBRA capitalization rates were applied to each assets KNCF to derive values that were, on an aggregate basis, 44.7% less than third party appraisal values.
  • To access ratings and relevant documents, click here .

KBRA Releases Research – CMBS Loan Performance Trends: February Update

Retrieved on: 
Friday, February 26, 2021
Professional services, Insurance, Commercial Building & Real Estate, Finance, Construction & Property, Banking, Finance, Money, Structured finance, Fixed-income securities, Financial services, Mortgage, Commercial mortgage-backed security, Loans, Commercial mortgage, Mortgage-backed security, KBRA, Mortgage loan

Kroll Bond Rating Agency (KBRA) releases a report on U.S. commercial mortgage-backed securities (CMBS) loan performance trends observed in the February 2021 servicer reporting period.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases a report on U.S. commercial mortgage-backed securities (CMBS) loan performance trends observed in the February 2021 servicer reporting period.
  • The delinquency rate for the period came in 60 basis points (bps) lower than in the previous month, at 5.9%, among KBRA-rated CMBS.
  • The decline was influenced by loan modification of several larger loans, at which time the related loans were reflected as current.
  • This month, KBRA analyzed 19,045 outstanding CMBS 2.0 conduit loans (KBRA rated and non-KBRA rated) for those that were reported as modified by the servicer during the pandemic (between April 2020 and December 2020).

Advan Research announces CMBS (Commercial Mortgage-Backed Securities) foot traffic data

Retrieved on: 
Thursday, February 25, 2021
Land transport, Transport, Road traffic management, Road transport, Commercial mortgage-backed security, Traffic

NEW YORK, Feb. 25, 2021 (GLOBE NEWSWIRE) -- Advan Research Corporation, the leading geolocation data provider and analytics platform servicing the financial industry, announced the launch of a CMBS foot traffic counts product.

Key Points: 
  • NEW YORK, Feb. 25, 2021 (GLOBE NEWSWIRE) -- Advan Research Corporation, the leading geolocation data provider and analytics platform servicing the financial industry, announced the launch of a CMBS foot traffic counts product.
  • The traffic data are a clear leading indicator of CMBS spreads, which were provided by Solve Advisors for testing.
  • The correlation between foot traffic and revenue is higher than 0.95 on a year over year basis for several companies.
  • Advan also computes 20 years of weather data across all its covered locations along with 6 years of traffic data on commercial trucks.

KBRA Assigns Preliminary Ratings to Taurus 2021-2 SP DAC

Retrieved on: 
Tuesday, February 23, 2021
Other Professional Services, Professional services, Finance, Finance, Money, Financial markets, Credit risk, Nationally recognized statistical rating organization, Credit rating agency, Kroll, Commercial mortgage-backed security, KBRA, Bond credit rating, Bond, Securitization

Kroll Bond Rating Agency UK Limited (KBRA) is pleased to announce the assignment of preliminary ratings to five classes of Taurus 2021-2 SP DAC, a CMBS single-borrower securitisation.

Key Points: 
  • Kroll Bond Rating Agency UK Limited (KBRA) is pleased to announce the assignment of preliminary ratings to five classes of Taurus 2021-2 SP DAC, a CMBS single-borrower securitisation.
  • Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.
  • Kroll Bond Rating Agency UK is located at Augustine House, Austin Friars, London, EC2N 2HA, United Kingdom.