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March 5, 2013
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The daily source on REITs and real estate investment

  Top News 
  • Fannie-Freddie securitization company in the works, FHFA says
    Fannie Mae and Freddie Mac will launch a joint company responsible for home-loan securitization, said Edward DeMarco, acting director of the U.S. Federal Housing Finance Agency. "The overarching goal is to create something of value that could either be sold or used by policymakers as a foundational element of the mortgage market of the future," he said. Reuters (3/4) LinkedInFacebookTwitterEmail this Story
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  Capital Markets 
  • CMBS market struggled last month
    Commercial mortgage-backed securities struggled in February after increasing as much as 15% in January. JPMorgan Chase sold the lowest-grade investment securities for 390 basis points above benchmark rates. "The weakness can be attributed to the glut of primary supply, investor apathy and the enormity of January's rally," a Deutsche Bank report says. Bloomberg (3/4) LinkedInFacebookTwitterEmail this Story
  Real Estate Marketplace 
  • Schorsch: American Realty has strong business model
    American Realty Capital is strongly positioned now with its 100% leased portfolio, CEO Nick Schorsch says. "We have zero leases rolling in the next 12 months and less than 1% of our leases are rolling in the next three years." The REIT is projected to do $1 billion in acquisitions this year, he says. CNBC (3/4) LinkedInFacebookTwitterEmail this Story
  • Construction spending drops 2.1% in January
    A 2.1% drop in U.S. construction spending was recorded in January, bringing spending to an annual rate of $883.3 billion, according to the Commerce Department. The decrease -- in both public and private construction -- was the largest since July 2011 and indicates weak first-quarter economic growth. Reuters (3/1) LinkedInFacebookTwitterEmail this Story
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  NAREIT News 
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  Policy Watch 
  • Rating agencies not impressed with cuts under sequestration
    Credit rating agencies say the cuts under sequestration are not enough for the U.S. to maintain its AAA rating in the long run. The agencies view the cuts as a step in the right direction but are concerned that Washington's inability to replace them with targeted cuts reflects its ongoing dysfunction. Fitch Ratings and Moody's Investors Service have placed the U.S. on a negative outlook. Standard & Poor's downgraded its U.S. credit rating in 2011. The Hill/On the Money blog (3/4) LinkedInFacebookTwitterEmail this Story
  • FSA is set to issue report about benchmark-rate warnings
    The U.K. Financial Services Authority is under fire from lawmakers for missing warning signs about manipulation of benchmark interest rates, including the London Interbank Offered Rate. After an internal audit, the regulator is poised to issue a report in which it is expected to defend its position. "There are some issues for which you just cannot have a police force big enough ever to spot all these problems," Chairman Adair Turner recently told lawmakers. "We could not have got at it by intensive supervision." Bloomberg (3/4) LinkedInFacebookTwitterEmail this Story
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Scottish-born American inventor

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