NEW YORK-JP Morgan is planning a $1-billion offering of CMBS, according to people familiar with the transaction. The sale would give hedge fund H/2 Capital LLC principal authority over the most troubled loans in the pool.
Citigroup Inc. and Goldman Sachs Group Inc. had relinquished their rights to investors in the highest-rated loans in a $788.5-million offering earlier this month. Despite owning one of the highest rated shares of the mortgage loans, Goldman Sachs switched from the conventional structure due its risky nature. For the full story, go to HousingWire.
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