41. Borrowers Giving Back the Keys to Their Properties in Droves, 6 Month Corporate CLO Credit Cycle

Our loyal listeners may recall that we recently discussed creating a list of CMBS loans for which the borrower has indicated a willingness to return the collateral to the lender. In this week's episode, we analyze the data behind borrowers looking to give back their keys, the preliminary October CMBS delinquency numbers, and noteworthy valuation cuts. In the last 6 months, corporate CLOs have arguably gone through a full credit cycle. Andrew Jacobs, Head of Structured Finance at Trepp, takes us through the various acts that we have witnessed. Episode Notes: The fragile and uneven recovery (1:05) Preliminary October delinquency numbers (9:06) New and noteworthy valuation cuts (14:23) Borrowers giving back their keys in droves (21:48) Hotel subscription models (26:35) Deal of the Week (35:33) A 6 month Corporate CLO credit cycle (37:37) Holiday retail innovation (45:09)