Latest RMBS news
An Irish reperforming mortgage deal was sold by a Lone Star fund on Thursday, while Spanish issuer UCI mandated leads for a new prime RMBS deal as ABS investors continue to show demand for legacy and peripheral credit.
Technical reforms of Fannie Mae and Freddie Mac, such as expanding agency credit risk transfer, could replace broader Congressional attempts to overhaul the government sponsored enterprises (GSEs), according to housing policy experts speaking at Moody's US Housing & Housing Finance Conference on Tuesday.
RMBS market observers are updating their prime jumbo issuance predictions for 2017 on the expectation that more banks are looking to wade into the sector.
Blackstone mandated banks last Friday to arrange a €400m securitization backed by re-performing Spanish mortgages that the private equity firm bought from CatalunyaCaixa in April 2015.
Rating agency DBRS outlined the sliding volumes of capital markets funding in the UK mortgage market on Thursday, estimating that Bank of England lending schemes have drawn over 30% of mortgage collateral away from public markets since the financial crisis.
A Lone Star investment vehicle has mandated banks to arrange a new Irish RMBS deal backed by performing and re-performing mortgages.
JP Morgan has not given up on issuing a risk transfer RMBS deal that achieves balance sheet relief, despite its first attempts being shot down by the US Office of the Currency Comptroller (OCC) last month.
Federal Reserve chair Janet Yellen has given a clear indication that the central bank is set to raise interest rates this month, but the reaction in fixed income markets has been muted with investors not convinced it is a sign of an aggressive hiking strategy this year.
Non-conforming Swedish lender BlueStep Bank sold its fourth RMBS deal on Thursday, with both euro and Swedish krone notes placed with investors.
Angel Oak, an originator of non-prime and non-qualified mortgages, is marketing its first rated non-QM deal, a $146.47m transaction backed by 529 loans with a weighted average borrowers credit score of 698.
Go to GlobalCapital's Securitization data pages for our dealflow database, plus details of priced European and US CLOs and structured finance bookrunner league tables.
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|Rank||Lead Manager/Arranger||Share % by Volume|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|1||Wells Fargo Securities||11,897.40||33||11.83%|
|2||Bank of America Merrill Lynch||9,837.56||29||9.78%|