EU self-cert ban 'a solution looking for a problem'

The European Union's ban on securitizing self-certified residential loans has been widely criticised by the market since being introduced last month, with DBRS adding to the outcry this week, describing the rule as a “solution looking for a problem”.

  • By Sam Kerr
  • 15 Aug 2017

Following the last minute addition of the language banning self-certified loans in European mortgage-backed securities, a number of sources have said that the proposals are unnecessary, as most forms of self-certified lending have been banned across much of Europe already.

Given that new origination of self-certified mortgages is ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

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1 Citi 108,190.43 309 12.88%
2 Bank of America Merrill Lynch 95,782.14 279 11.40%
3 Wells Fargo Securities 80,847.28 245 9.63%
4 JPMorgan 58,524.24 184 6.97%
5 Credit Suisse 43,977.05 134 5.24%