Instant Insights Capital Markets

This deal follows a REMIC it priced earlier this year that included two green tranches totaling $600 million.

“A change in the GSEs and their outlook would affect the market substantially overnight.”

“I think the main impact on CRE is the improved detail surrounding those circumstances in which banks are required to hold a 150% risk weight for CRE loans vs a 100% risk weight.”

The CRE Finance Council has maintained that the Volcker Rule has led to constrained secondary market-making.

Since 2012, banks' commercial and mortgage holdings have grown by 37.3% to $1.8 trillion, according to Yardi Matrix.

The slowdown is likely due to higher asset pricing, with fund managers moving to the lower end of the market for deal flow.

So far CMBS volume is tracking better than issuance in the same period in 2017.

Five Oaks has acquired Hunt Mortgage Group's equity interests for $68 million, while Morgan Properties has bought its second B-Piece.