3 reasons why California housing is about to go bust

Here's where expert economists think housing is going

Where will we be in 2019?

Washington is protecting buyers right out of homeownership

BPC Housing Commissioner: Give borrowers a chance to fail
W S
Investments / The Ticker

S&P receives wells notice over CMBS ratings

Tied to loans from 2011

file cabinent

Six commercial-mortgage backed securities Standard & Poor graded in 2011 are under question after McGraw Hill Financial said it received a notice from the U.S. Securities and Exchange Commission that the regulator may seek an enforcement action. Per Bloomberg:

McGraw Hill’s market share for rating bonds backed by commercial mortgages has declined since the firm pulled assigned grades on a $1.5 billion offering in July 2011. New York-based S&P is cutting about a third of its staff in the division, a person with knowledge of the matter said last week.

S&P rated six commercial-mortgage bond deals in 2011, according to a report from Morgan Stanley. They included three that pooled loans from borrowers across the U.S. and three tied to a single borrower, such as a $1 billion transaction linked to retail properties acquired by Blackstone Group LP.

Source: Bloomberg
Read full story

Recent Articles by Brena Swanson

Comments powered by Disqus