Securitization

Latest Securitization News

• US: When there’s blood on the Street, buy MSRs

  Regional banks and private equity firms smell blood in the air amid negative headwinds for non-bank mortgage servicers, and they are muscling into the mortgage servicing space to compete for lucrative mortgage servicing rights sold by the largest banks.

  • 10 Mar 2014

• Europe: Aegon fires starting gun on prime RMBS test

  

  Aegon may price its Saecure 14 RMBS trade as early as Monday afternoon, kicking off a week that could see the market for prime RMBS tested for the first time this year with three trades.

  • 10 Mar 2014

• Clydesdale to re-open UK master trust supply

  

  Clydesdale Bank will sell the first UK prime RMBS of the year, after mandating leads for a euro and sterling denominated Lanark trade that will be offered in Reg-S and 144A format to attract a bid from US investors.

  • 07 Mar 2014

• Legal & General bought £210m ex-Opal student hall bond

  Legal & General Investment Management bought the whole of the £210m bond that finances the sale of Opal Group’s eight UK student halls of residence out of administration.

  • 07 Mar 2014

• ICG and Deutsche Bank increase St Paul’s IV CLO to €435m

  Intermediate Capital Group’s first European CLO of the year was priced at levels broadly in line with other European deals this year. Arranger Deutsche Bank increased the overall size of the deal by €75m to accommodate fervent investor demand.

  • 06 Mar 2014

• Heritage Bank adds to Aussie RMBS pipeline

  Heritage Bank is the latest Australian mortgage lender to turn to the RMBS market for funding. The deal comes shortly after Fitch Ratings said Australian RMBS were seeing the lowest level of short term arrears since 2009.

  • 05 Mar 2014

• Santander Consumer Bank back with German auto ABS

  Santander Consumer Bank AG will meet investors early next week to showcase a new €600m German auto loan securitization.

  • 05 Mar 2014

• Congressman presses feds to scrutinize home rental bonds

  

  The California Democrat who in January requested congressional hearings into home rental securitizations is moving beyond Capitol Hill with fresh calls to federal regulators, requesting them to investigate large property investors’ packaging of bonds backed by home rental payments.

  • 06 Mar 2014

• PHH, Nelnet, Discover sail through market

  Asset-backed securities from PHH Corporation, Nelnet and Discover Financial Services neared final pricing on Tuesday with a minimum of two other deals still marketing, but year-to-date issuance of $33.51m still lags behind the $36.56m that was priced in the first two months last year.

  • 04 Mar 2014

• AMP Bank readies Progress RMBS as Aussies stay ahead

  The flow of RMBS new issues from Australia is set to continue with a transaction from AMP Bank’s Progress Trust platform. In terms of volumes, the Australian securitization market is comfortably ahead of both the UK and Dutch markets this year to date.

  • 04 Mar 2014