Dutch consider SSA market to refinance mortgages
The Dutch government is considering creating a centralised Dutch mortgage bank that would issue government-wrapped multi-issuer mortgage bonds, backed by securitisations of government-insured (NHG) mortgages. The double-wrapping would bring benefits for both issuers, existing investors and the housing market, according to JP Morgan analysts, though Dutch RMBS issuance is likely to fall.
A centralised Dutch mortgage bank is among the mortgage market reforms being considered by the government in initial discussions published online recently. The proposals are at a "very early stage of communication with the market", according to Gareth Davies, ABS research analyst at JP Morgan.
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