Securitization - Article Archive

  • CLOs Flirt With Record Quarter, But FDIC Charges Loom

    U.S. collateralized loan obligation issuance in the first quarter nearly broke the all-time record, with $26.3 billion in middle-market and broadly syndicated loan CLOs priced, according to SI data.

    • 29 Mar 2013
  • “We’ve seen benchmark names stopping their tightening trend and reversing due to heavy supply…But I doubt this resistance to spreads is the beginning of a long-term trend.”

    —Allesandro Pagani, v.p. and head of securitized products for Loomis Sayles, on recent widening in new-issue U.S. asset-backed securities.

    • 29 Mar 2013
  • One Year Ago

    Market players prepared to bid farewell to boutique collateralized loan obligations, as the evolving CLO market was seen as becoming increasingly inhospitable to smaller managers

    • 29 Mar 2013
  • Market Shrugs Off Widening

    The primary market for asset-backed securities in the U.S. is showing signs of widening, but market players from both sides of the street say they’re not anticipating softer pricing to be the new norm long term.

    • 28 Mar 2013
  • A Tale Of Two Resi Deals

    The two residential mortgage-backed securities deals that priced this week have been watched with an eye on what the future standard for representations and warranties in a rebooted RMBS market will look like.

    • 28 Mar 2013
  • FHFA Streamlines Loan-Mod Process

    The U.S. Federal Housing Finance Agency has streamlined the loan modification process.

    • 28 Mar 2013
  • Canada Names SIFI

    Canada’s Office of the Superintendent of Financial Institutions has designated the nation’s six leading banks as systemically important financial institutions, subject to stiffer oversight.

    • 28 Mar 2013
  • Fed MBS Purchases Down To Half

    The Federal Reserve is purchasing roughly half of the gross issuance of mortgage-backed securities, compared with two-thirds the central bank purchased in 2009.

    • 28 Mar 2013
  • Foreclosures Drop 19%

    Foreclosures fell 19% nationally in February to 54,000 from a year earlier, according to CoreLogic. The figure is the lowest national level since September 2007. Click here to read the release from CoreLogic.

    • 28 Mar 2013
  • Investors Urged To Buy Top-Rated MBS Tranches

    Investors Urged To Buy Top-Rated MBS Tranches Investors in mortgage-backed securities sold by EverBank Financial are being urged by underwriters Bank of America and Barclays to also include some AAA-rated classes, which have experienced weak demand recently.

    • 28 Mar 2013
  • Serviced Loans Improve In Q4

    Servicers report that current and performing loans improved in the fourth quarter to 89.4%, up from 88.6% in the preceding three-month period, according to the Office of Comptroller of the Currency.

    • 28 Mar 2013
  • Judge Dismisses Woori CDO/RMBS Suit Against Citi

    U.S. District Judge Laura Taylor Swain of New York has dismissed a lawsuit filed by South Korea’s Woori Bank against Citigroup, charging the U.S. bank with allegedly using misleading ratings to conceal that the loans underlying collateralized debt obligations and residential mortgage-backed securities were likely to default.

    • 28 Mar 2013
  • Start-Up Looks To Securitize Student Loans

    Start-up lender SoFi plans to begin to securitize student loans this year after receiving a $60 million warehouse line of credit from Morgan Stanley.

    • 28 Mar 2013
  • UBS CLO Exec To Go Buyside, Bank Replaces CMBS Exec

    UBS is losing its head of collateralized loan obligation origination and syndication Anthony Pawlowski to the buyside, continuing a week of high-level people moves for the bank’s remaining securitization platforms.

    • 28 Mar 2013
  • UBS Appoints New MBS Heads

    UBS is appointing John Herman and Brett Ersoff as co-heads of the bank’s real estate finance and mortgage-backed securities business, after Ken Cohen left the bank this week.

    • 28 Mar 2013
  • Apollo Euro CLO Guidance Emerges

    Price talk on Apollo Global Management’s EUR306.5 million ($391.7 million) ALME Loan Funding 2013-1 collateralized loan obligation has emerged, tracking in line with market expectations.

    • 28 Mar 2013
  • Cypriot Banks Open With Restrictions

    Banks in Cyprus opened Thursday for the first time since March 16 but with tough restrictions on transactions, including a withdrawal limit of EUR300 ($383) and a ban on cashing checks.

    • 28 Mar 2013
  • Basel Proposes Risk Limits On Banks

    The Basel Committee on Banking Supervision has proposed imposing stricter regulations on banks’ exposure to other financial institutions that run into trouble.

    • 28 Mar 2013
  • European Auto ABS Stable In Q4

    Performance of European automobile asset-backed securities was primarily stable in the fourth quarter, according to Fitch Ratings, which noted that its annualized-loss and delinquency indices decreased slightly from 0.6% and 1.7% in the preceding quarter to 0.5% and 1.6%, respectively.

    • 28 Mar 2013
  • U.K. Loan Loss Severities Soar

    Loan loss severities on repossessed U.K. properties have grown significantly since 2008 along with the percentage of loans suffering losses, according to Fitch Ratings.

    • 28 Mar 2013
  • FSA, B Of E Ease New-Bank Requirements

    FSA, B Of E Ease New-Bank Requirements The U.K.’s Financial Services Authority and Bank of England are easing requirements for new financial institutions entering the banking sector, effective April 1. Click here to read the release from the Financial Services Authority.

    • 28 Mar 2013
  • U.K. Banks Face £25 Bln Shortfall

    U.K. banks face a capital short fall of £25 billion ($38 billion), with the Royal Bank of Scotland and Lloyds Banking Group accounting for £20 billion ($30.38 billion) and of the total, according to the Bank of England.

    • 28 Mar 2013
  • U.K. Loses Banker Bonus Battle

    The U.K. has lost its bid to overturn a limit on bankers’ bonuses to twice their salary as proposed by the European Union, which will officially vote on the measure in May.

    • 28 Mar 2013
  • Transactions Tax Falls Short Of Forecast

    The financial transaction tax already imposed across Europe is said to have depressed market activity and has generated less than half the revenue that was originally projected.

    • 28 Mar 2013
  • EMEA Consumer ABS Remains Stable

    Performance of consumer loan asset-backed securities in Europe, the Middle East and Africa remained stable in the three months ended Jan. 31, according to Moody’s Investors Service.

    • 28 Mar 2013
  • Moody’s Cuts Annington Finance CMBS Ratings

    Bonds in the Annington Finance No. 1 U.K. commercial mortgage securitization were downgraded by Moody’s Investors Service Thursday as a result of default risk stemming from the deal’s account bank, the Royal Bank of Scotland.

    • 28 Mar 2013
  • CLO uptick seen positive for CMBS; Gagfah eyes new issue

    A new German multifamily housing securitisation planned by real estate investor Gagfah, coupled with the reopening of Europe’s collateralised loan obligation market, points to strong investor demand away from typical core securitisations, officials in London say.

    • 28 Mar 2013
  • Fitch outlook for Spanish property worsens

    Fitch has adjusted its rating assumptions for Spanish RMBS on the back of worsening property market expectations, more uncertainty over mortgage borrower insolvency legislation and persistently high unemployment. The net effect will be lower and slower mortgage recovery rates, the rating agency said in a teleconference on Tuesday.

    • 28 Mar 2013
  • UK ABS supply at last as investors pile into A-Best 8

    Primary supply finally hit the parched UK corner of the European ABS market this week, as FGA Capital UK successfully priced a new auto loan ABS.

    • 28 Mar 2013
  • Bookrunners of all international bonds — 2013 (March 26, 2013)

    • 28 Mar 2013
  • Bookrunners of all global bonds (Global) — 2013 (March 26, 2013)

    • 28 Mar 2013
  • Low take-up as investors shun Cajamar ABS tender

    Cajamar Caja Rural bought back around 7% of the outstanding bonds in its RMBS and SME CLO tender, in what was the first European ABS buyback this year. The low participation rate continues the trend seen last year, when Spanish banks typically failed to convince investors to offer up more than 10% to 15% of outstanding bonds in tenders.

    • 28 Mar 2013
  • Aegon uses NHG mortgages in Saecure PP

    Aegon has securitised a pool of government guaranteed (NHG) mortgages through its Saecure RMBS programme, privately placing €750m of RMBS and retaining another €373m of the same two year and five year bonds.

    • 28 Mar 2013
  • AFME pitches wider ABS role in economic funding debate

    The Association for Financial Markets in Europe (Afme) wants the European Commission to take a broader look at financing the real economy, and examine how funding for housing — including residential mortgages — and other consumer assets can be boosted by securitisation markets.

    • 28 Mar 2013
  • Bonds Tables 1298

    • 28 Mar 2013
  • Agencies To Simplify Loan Mods

    Government-sponsored enterprises Freddie Mac and Fannie Mae are offering lower mortgage payments for some borrowers 90 days or more late on their loans as part of a streamlined loan modification program starting in July.

    • 27 Mar 2013
  • Study Promotes Securitization For Solar Portfolios

    New research from U.S. Department of Energy's National Renewable Energy Laboratory suggests solar securitization could lower the levelized cost of energy for solar projects by 16% or more.

    • 27 Mar 2013
  • SFIG To Open Doors To Members

    The Structured Finance Industry Group is said to be getting ready to accept its first membership applications before the end of the week and possibly by as soon as the end of the day, following the new trade association’s speedy launch two weeks ago.

    • 27 Mar 2013
  • The Pipeline: Slowed To A Trickle

    Spring break has come to the securitization market, with just one asset-backed securitization deal pricing by midweek from fleet lease shop Automotive Rentals Inc.

    • 27 Mar 2013
  • Aegon Puts Gov-Guaranteed Mortgages To Use In Saecure Private Placement

    Aegon Levensverzekering N.V. has securitized a pool of government guaranteed (NHG) mortgages through its Saecure residential mortgage-backed securities program, privately placing EUR750 million ($957.91 million) of RMBS and retaining another EUR373 million ($476.4 million) of the same two-year and five-year bonds.

    • 27 Mar 2013
  • Asset Managers Drive A-Best Spreads In

    U.K. asset managers piled into FGA Capital U.K.’s auto asset-backed securities deal, A-Best 8, leaving books on both tranches more than two-and-a-half times covered and enabling leads to price at the tight end of guidance.

    • 27 Mar 2013
  • Outlook For French Banks Remains Negative

    The outlook for the French banking system remains negative, despite improvement, according to Moody’s Investors Service.

    • 27 Mar 2013
  • Bankinter Spanish RMBS Tranches Downgraded

    Moody’s Investors Service has downgraded 12 tranches across three Spanish residential mortgage-backed deals issued by Bankinter.

    • 27 Mar 2013
  • ETFs See Regs Impact, E&Y Survey Finds

    Tougher regulations aimed at tightening up certain financial products, such as securitization, may also be unintentionally affecting some exchange traded fund providers in Europe, according to an Ernst & Young survey.

    • 27 Mar 2013
  • Italian Leasing ABS Worsen In January

    Performance of asset-backed securities linked to Italian leases as defaults rose to 5.9% in January, up from 5.4% a year earlier, according to Moody’s Investors Service.

    • 27 Mar 2013
  • CLO Uptick Seen As Positive For CMBS; Gagfah Eyes New Issue

    A new German multifamily housing securitization planned by real estate investor Gagfah, coupled with the reopening of Europe’s collateralized loan obligation market, points to strong investor demand away from typical core securitizations, officials in London say.

    • 27 Mar 2013
  • DB Shoots To Close Par-Four Before FDIC Changes

    Deutsche Bank is looking to close Par-Four Investment Management’s first collateralized loan obligation since the financial crisis only three days after the bank priced the deal, reflecting uncertainty as to how the market will react to upcoming changes in the way the Federal Deposit Insurance Corporation assesses the riskiness of banks’ investments.

    • 27 Mar 2013
  • Bookrunners of Asia Pacific bonds in $, € and ¥ — 2013 (March 27, 2013)

    • 27 Mar 2013
  • Bookrunners of Asia Pacific (ex-Japan) bonds in $, € and ¥ — 2013 (March 27, 2013)

    • 27 Mar 2013
  • CLO uptick seen positive for CMBS; Gagfah eyes new issue

    A new German multifamily housing securitisation planned by real estate investor Gagfah, coupled with the reopening of Europe’s collateralised loan obligation market, points to strong investor demand away from typical core securitisations, officials in London say.

    • 27 Mar 2013
  • Sterling asset managers show appetite for A-Best auto ABS

    UK asset managers piled into FGA Capital UK’s auto ABS, A-Best 8, leaving books on both tranches more than two and a half times covered and enabling leads to price at the tight end of guidance.

    • 27 Mar 2013
  • Aegon puts gov-guaranteed mortgages to use in Saecure private placement

    Aegon has securitised a pool of government guaranteed (NHG) mortgages through its Saecure RMBS programme, privately placing €750m of RMBS and retaining another €373m of the same two year and five year bonds.

    • 27 Mar 2013
  • JPM RMBS Comes In Wider Than EverBank

    Investors may have spoken with their wallets this week, responding to ratings agencies’ concerns over representation and warranties in JPMorgan’s first private-label residential mortgage-backed securitization since the crisis by pushing its price wider than EverBank, another private-label deal that also priced this week.

    • 26 Mar 2013
  • Canada Limits Banks’ Portfolio Insurance

    The Canadian government announced that it plans to limit the amount of portfolio insurance banks may purchase from the Canada Mortgage Finance Corp. and other private firms, which financial institutions use to make it easier to securitize and sell the loans that are pooled together in a portfolio.

    • 26 Mar 2013
  • UBS, SEC Eye CDO Settlement

    UBS is said to be in settlement talks with the U.S. Securities and Exchange Commission, which charged the Swiss lender with misleading investors who purchased more than $748 million in notes linked to a collateralized debt obligation, allegedly knowing that they would soon be downgraded.

    • 26 Mar 2013
  • Cantor Fitzgerald’s CLO Head Exits

    Michael Sobol, Cantor Fitzgerald’s head of collateralized loan obligation and collateralized debt obligation trading, has left the firm.

    • 26 Mar 2013
  • ARI Fleet Lease Deal Steps Into Quiet Market

    Automotive Rentals Inc. is hitting the market with a $453.23 million fleet lease securitization amid an otherwise quiet week for the sector.

    • 26 Mar 2013
  • Guidance Out For New U.K. Auto ABS

    Leads on FGA Capital U.K.’s auto loan asset-backed securities deal, A-Best 8, opened books around midday Tuesday in line with Monday’s initial price thoughts, attracting solid interest from supply-starved sterling investors.

    • 26 Mar 2013
  • Investors In Spanish Nationalized Banks Hit Hard

    FROB, the Spanish government’s bail-out fund, has announced restructuring terms for the nation’s banking system, which include imposing losses of up to 61% at its nationalized banks.

    • 26 Mar 2013
  • IMF Backs Danish Bank Bail-In Plan

    The International Monetary Fund has come out in support of a proposal by the Danish government to exempt the nation’s six largest banks from its two-year-old bail-in legislation, which would require them to boost capital requirements.

    • 26 Mar 2013
  • U.K. Bad Bank Repays Taxpayers £4 Bln

    U.K. Asset Resolution, the bad bank holding toxic assets for Northern Rock and Bradford and Bingley, repaid taxpayers £4 billion ($6.07 billion) last year, well above £2.8 billion ($4.25 billion) in 2011.

    • 26 Mar 2013
  • Ex-FSA CEO Leads RBS Branch Bid

    John Tiner, former ceo of the U.K.’s Financial Services Authority, has been retained to head a bid by a consortium of firms for the 316 branches of the Royal Bank of Scotland.

    • 26 Mar 2013
  • U.K. Gross Lending Inches Up, Approvals Slip

    Gross mortgage lending in the U.K. inched up 1% in February from the preceding month to £7.7 billion ($11.69 billion), while the value of mortgage approvals fell 3% over the same period, according to the British Bankers’ Association.

    • 26 Mar 2013
  • AFME Pitches Wider ABS Role In Economic Funding Debate

    The Association for Financial Markets in Europe wants the European Commission to take a broader look at financing the real economy, and examine how funding for housing—including residential mortgages—and other consumer assets can be boosted by securitization markets.

    • 26 Mar 2013
  • Germany in the Global Marketplace full PDF download

    • 26 Mar 2013
  • AFME pitches wider ABS role in economic funding debate

    The Association for Financial Markets in Europe (AFME) wants the European Commission to take a broader look at financing the real economy, and examine how funding for housing — including residential mortgages — and other consumer assets can be boosted by securitisation markets.

    • 26 Mar 2013
  • Germany’s pivotal position in Eurozone markets: The view from the Federal Ministry of Finance

    By Steffen Kampeter, Parliamentary State Secretary. As the largest economy in the European Union, Germany has been a key contributor to the common effort to reverse the crisis of confidence in Europe. A vibrant capital market for German and European investment products is a central institutional ingredient to the successful fulfillment of this task, and I will outline below what makes this market attractive to international investors and how we intend to further foster this appeal.

    • 26 Mar 2013
  • Compact ABS market in danger of shrinking even further

    German securitisation might be small but it is perfectly formed. Limited to just a couple of asset classes, Germany’s auto and SME ABS are among the most popular and innovative products available. However, as Joe McDevitt reports, new capital regulations and an expansionary covered bond might be about to make life a whole lot of tougher.

    • 26 Mar 2013
  • Guidance out for new UK auto ABS

    Leads on FGA Capital UK’s auto loan ABS, A-Best 8, opened books around midday in line with Monday’s initial price thoughts, attracting solid interest from supply-starved sterling investors.

    • 26 Mar 2013
  • Fitch outlook for Spanish property worsens, RMBS on watch negative

    Fitch has adjusted its rating assumptions for Spanish RMBS on the back of worsening property market expectations, more uncertainty over mortgage borrower insolvency legislation and persistently high unemployment. The net effect will be lower and slower mortgage recovery rates, the rating agency said in a teleconference on Tuesday.

    • 26 Mar 2013
  • Germany the hot centre of a hot export finance market

    Germany’s exporting industries have gone from strength to strength since the financial crisis, boosted by demand from the world’s fastest-growing economies for their high quality products. As Lucy Fitzgeorge-Parker discovers, financing that flow has presented such an attractive prospect to many banks that competition between them has become intense. Perhaps only the threat of Basel III will cool their ardour...

    • 26 Mar 2013
  • Moody’s Takes Swing At JPM Private-Label RMBS

    Analysts at Moody’s Investors Service said JPMorgan’s residential mortgage-backed securitization wasn’t strong enough to merit a Moody’s triple-A rating.

    • 25 Mar 2013
  • Ohio Power Utility Gets ABS Approval

    The Public Utilities Commission of Ohio has approved a proposed rate reduction securitization from the state’s American Electric Power affiliate, taking the utility closer to issuing ABS than its peers in West Virginia and Louisiana, which are also seeking approval to issue deals.

    • 25 Mar 2013
  • Canada Limits Banks’ Portfolio Insurance

    The Canadian government announced that it plans to limit the amount of portfolio insurance banks may purchase from the Canada Mortgage Finance Corp. and other private firms, which financial institutions use to make it easier to securitize and sell the loans that are pooled together in a portfolio.

    • 25 Mar 2013
  • P.E. Firm Closes Third CLO

    Toronto-based private equity firm Onex announced that Onex Credit Partners has raised $512 million in its third collateralized loan obligation.

    • 25 Mar 2013
  • Small Number Of Resolved CMBS Loans Back In Special Servicing

    Only 5% of resolved loans in commercial mortgage-backed securities have returned to special servicing since 2009, according to Fitch Ratings.

    • 25 Mar 2013
  • Nationstar In Talks To Settle Auction Charges

    Nationstar Mortgage Holdings is in talks with an investor group that filed a lawsuit against it earlier this month to settle charges that the mortgage servicer auctioned loans at the expense of investors in mortgage-backed securities.

    • 25 Mar 2013
  • Rep And Warranty Costs Remain High In Q4

    Representation and warranty costs among toporiginators remained elevated in the fourth quarter and will likely remain high over the next years, according to Keefe, Bruyette & Woods.

    • 25 Mar 2013
  • UBS, SEC Eye CDO Settlement

    UBS is said to be in settlement talks with the U.S. Securities and Exchange Commission, which charged the Swiss lender with misleading investors who purchased more than $748 million in notes linked to a collateralized debt obligation, allegedly knowing that they would soon be downgraded.

    • 25 Mar 2013
  • Investors Shun Another Spanish Tender

    Cajamar Caja Rural bought back around 7% of the outstanding bonds in its residential mortgage-backed securities and small-to-medium enterprise collateralized loan obligation tender, in what was the first buyback of European asset-backed securities this year.

    • 25 Mar 2013
  • FGA Capital Kicks Off 2013 Sterling ABS Supply

    FGA Capital U.K. is set to provide the year’s first piece of U.K. securitization primary supply, as it looks to price a U.K. auto loan asset-backed securities deal, A-Best 8, by Wednesday this week.

    • 25 Mar 2013
  • U.K. Banks See Fines, Valuations Erase Profits

    The U.K.’s five largest banks have seen their profits erased by fines and compensation paid from the recent payment protection insurance scandal and revaluation of their debt, according to KMPG, the accounting firm.

    • 25 Mar 2013
  • FSA Finalized LIBOR Rules

    The U.K.’s Financial Services Authority has finalized new rules and regulations for financial benchmarks, following recommendations of the review of the London Interbank Offered Rate by a commission headed by Martin Wheatley, the new ceo of the Financial Conduct Authority.

    • 25 Mar 2013
  • Basel Seeks To Curb Bank’s CDS Use

    The Basel Committee on Banking Supervision has published a consultative document that proposes restricting banks’ use of credit default swaps and other instruments to lower capital charges.

    • 25 Mar 2013
  • Cyprus’ No. 2 Bank To Shut In Bail-Out Deal

    Laiki Bank, Cyprus second-largest bank, will be shut down as part of deal to avert a collapse of the island’s banking system.

    • 25 Mar 2013
  • Understanding EMIR - A Guide For Repackaging, Securitization and Structured Finance Transactions (Part 1)

    By Nigel Dickinson and Will Dibble, capital markets partners at CMS Cameron McKenna

    • 25 Mar 2013
  • FGA Capital kicks off 2013 sterling ABS supply

    FGA Capital UK is set to provide the year’s first piece of UK securitisation primary supply, as it looks to price a UK auto loan ABS, A-Best 8, by Wednesday this week.

    • 25 Mar 2013
  • Low take-up again as investors shun another Spanish tender

    Cajamar Caja Rural bought back around 7% of the outstanding bonds in its RMBS and SME CLO tender, in what was the first European ABS buyback this year. The low participation rate continues the trend seen last year, when Spanish banks typically failed to convince investors to offer up more than 10% to 15% of outstanding bonds in tenders.

    • 25 Mar 2013
  • New MBS Platform In Five Years Predicted

    Edward DeMarco, the acting director of the U.S. Federal Housing Finance Agency, predicts that there will be a platform for mortgage-backed securitization developed by Fannie Mae and Freddie Mac within five years.

    • 22 Mar 2013
  • Asset Manager Closes $400 Mln CLO

    Asset manager TCW Group has closed a $400 million collateralized loan obligation, Figueroa CLO 2013-1.

    • 22 Mar 2013
  • CMBS Interest Shortfall Not Likely Widespread

    The interest shortfalls that affected the senior class of a Morgan Stanley commercial mortgage-backed securitization are unlikely to be widespread across the market, according to Fitch Ratings.

    • 22 Mar 2013
  • RMBS Investor Raises $85.5 Mln In IPO

    Five Oaks Investment, which specializes in investing in residential mortgage-backed securities and other mortgage-related investments, says it has raised $85.5 million.

    • 22 Mar 2013
  • Wells Top CMBS, Mortgage Originator

    Wells Fargo was named top originator of commercial/multifamily mortgages and of commercial mortgage-backed securities, according to Mortgage Bankers’ Association.

    • 22 Mar 2013
  • JPM Private Deal A Sign Of Things To Come?

    JPMorgan’s new non-agency residential mortgage deal could signal a renaissance for the private-label market, not only as the bigger banks look to become active again but also potentially ending the near moratorium on banks using their own loans in private-label deals. In contrast to deals from Redwood Trust and Credit Suisse, the only issuers to tap the space since the market crash, the largest chunk of the loans included in JPMorgan’s deal—48.1%—were originated by the bank itself.

    • 22 Mar 2013
  • Fast Food Chains Serve Up Franchise ABS (PRICING UPDATE)

    CKE Restaurants—owner and operator of Carl’s Junior and Green Burrito in the West, and Hardee’s and Red Burrito in the Midwest and Southesast—last week cooked up a $1.15 billion franchise royalties securitization with Barclays at the helm.

    • 22 Mar 2013
  • One Year Ago

    Market players mostly swatted down rumors that a mysterious job description posted at Goldman Sachs was an indication the dealer was readying a monoline insurance business plan, after the strategy all but died out in the wake of the financial crisis.

    • 22 Mar 2013
  • European Banks Need Billions More For U.S MBS Suits

    Europe’s five largest lenders may need an additional $11 billion in provisions to cover the cost of litigation in the U.S. related to mortgage-backed securities they sold.

    • 22 Mar 2013
  • Norwegian Banks Raise Rates Ahead Of Regs

    Several Norwegian banks have announced they are raising their rates on home mortgages because of higher costs associated with new regulations, which have yet to go into effect.

    • 22 Mar 2013
  • PIMCO Names Europe CRE Chief

    PIMCO has named Laurent Luccioni as executive and head of commercial real estate portfolio management for Europe.

    • 22 Mar 2013
  • ESMA Certifies Kroll For E.U.

    The European Securities and Markets Authority has certified Kroll Bond Rating Agency to operate in the European Union, the first such agency from the U.S. to earn the designation since the European Commission began recognizing U.S. legal and supervisory framework for Europe last October.

    • 22 Mar 2013