Commercial mortgage-backed securities issuance rose to $39 billion, up from roughly $15 billion during the same period in 2012.
A majority of this issuance comes from conduit/fusion transactions, accounting for $23 billion of the 2013 CMBS total, according to Standard & Poor’s latest report.
"We believe these new deals — especially those issued during the second quarter — are riskier compared with 2013 and other recent vintage conduit/fusion deals," said analysts for S&P.
Read more...CMBS risk is rising: S&P | HousingWire
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