Securitization - Article Archive

  • “We get no pressure from our equity partner Blackstone. It’s not even in discussion.”

    --Mark Floyd, ceo of Exeter Finance Corp., responding to the claim that the firm’s private-equity backers may be pressing too hard for returns, which may have contributed to its recent management turnover.

    • 31 Jan 2014
  • Wells, Other Banks Said To Turn Heat Up On CLO Managers

    Wells Fargo and other banks are pressuring managers of the collateralized loan obligations they hold to restructure them to be Volcker-compliant, sometimes as a precondition to buying new deals from those managers, according to people familiar with the matter. Spokespeople at Wells were not able to comment by press time.

    • 31 Jan 2014
  • New Issues 1339

    This weeks new issues

    • 31 Jan 2014
  • Moves in Brief, 31 January

    Exotix appoints global head of loans — RenCap continues equity sales drive with VP hire

    • 31 Jan 2014
  • Softening pushes VW pricing wider as spreads converge

    Volkswagen priced its latest VCL auto lease securitization wider than both VCL deals it priced in 2013, as spreads between different programmes in the German auto ABS sector continued to converge.

    • 31 Jan 2014
  • Regulators must act on ABS before it is too late

    When Mario Draghi said — for the second time— that the ECB would consider buying ABS to boost Europe’s economic prospects, everyone took note. Everyone, it seems, except Europe’s regulators, who have shown a reluctance to change their anti-securitization tack. It is time for them to swallow some pride and roll back the harshest securitization regulation — before it is too late.

    • 31 Jan 2014
  • Hyundai and CredAg-CF go for private placements

    A pair of private placements kept supply ticking over in the primary securitization market this week. Hyundai Capital UK sold its first ever securitization of UK car loans, while Crédit Agricole’s consumer finance arm in the Netherlands sold a rare Dutch consumer loan ABS.

    • 31 Jan 2014
  • Secondary activity slows but spreads stay mostly unmoved

    Trading activity in the secondary securitization market slowed this week as buyers and sellers went into wait-and-see mode because of volatility in credit markets. But spreads for bonds were unmoved, with traders saying a sell-off was unlikely.

    • 31 Jan 2014
  • Job done for Arqiva as £164m bond sells

    Arqiva, the UK broadcasting masts business, returned to the bond market on Wednesday for a bespoke £164m issue from its whole business securitization, which found ample demand, helped by a juicy new issue premium.

    • 31 Jan 2014
  • MTN Leak: Luxury or budget?

    Would you rather live in a mansion or a horrible little flat? The answer is obvious, right? But UBS’s David Morland shocked Leak this week — he wants to live in a horrible little flat opposite a mansion.

    • 31 Jan 2014
  • Update: Eight Dealers Scramble To Bid For Final ING Sale, But Investors May Hesitate

    Eight dealers scrambled Tuesday to submit bids for the Dutch government’s third and final sale of $2.1 billion in ING’s remaining private-label residential mortgage-backed securities portfolio, but investor demand may not be quite as high as the previous ING sale in mid-January.

    • 30 Jan 2014
  • VCL Prices Wider As Spreads Converge Across Autos

    Volkswagen priced its latest VCL auto lease securitization wider than both VCL deals it priced in 2013, as spreads between different programs in the German auto asset-backed securities sector continued to converge.

    • 30 Jan 2014
  • Implementing TBA Margin Practices: Not An ‘Option’

    By Ted Leveroni, head of derivatives strategy, Omgeo In November 2012, the Federal Reserve Bank of New York’s Treasury Market Practices Group (TMPG) put forward a recommendation for forward-settling agency mortgage backed securities (MBS) transactions to be margined in order to better manage counterparty exposures.

    • 30 Jan 2014
  • VCL is priced wider than usual as yield hunt intensifies

    Volkswagen priced its latest VCL auto lease securitization wider than both VCL deals it priced in 2013, as spreads between different programmes in the German auto ABS sector continued to converge.

    • 30 Jan 2014
  • Deutsche Bahn

    • 30 Jan 2014
  • United Kingdom

    • 30 Jan 2014
  • Crédit Agricole

    • 30 Jan 2014
  • CIT’s Remaining FFELP Portfolio Up For Grabs

    CIT Group today marked for sale $3.4 billion in its remaining legacy Federal Family Education Loan Program portfolio, which it plans to sell this quarter, with Nelnet and Sallie Mae standing as the strongest potential buyers.

    • 29 Jan 2014
  • Cuomo Appointment Fast-Tracks $8.5 Bln BofA Settlement Decision

    The New York judge reviewing an $8.5 billion settlement between mortgage bond holders and Bank of America was appointed this month by Gov. Andrew Cuomo to an appellate court, a development that will likely accelerate a decision before she leaves office this Friday.

    • 29 Jan 2014
  • Dutch Arm Of CredAg Consumer Finance Sells Consumer Loan ABS

    Crédit Agricole Consumer Finance Nederland has privately placed a rare securitization of Dutch consumer finance loans.

    • 29 Jan 2014
  • Hyundai Capital Raises £300M In Debut UK Auto ABS

    Hyundai Capital U.K., the auto finance provider for Hyundai and Kia dealers in the U.K., has privately placed a debut U.K. auto loan asset-backed securities deal.

    • 29 Jan 2014
  • Exeter Departures Not Impacting Deal Execution; CEO Says “No Pressure” From Blackstone

    Executive departures from Exeter Finance Corp. and concerns that its private-equity backer Blackstone Group is exerting too much pressure on the firm to meet return targets do not appear to have impacted execution on Exeter’s upsized $650 million EART 2014-1 subprime auto deal this week.

    • 29 Jan 2014
  • Hyundai Capital raises £300m in debut UK auto ABS

    Hyundai Capital UK, the auto finance provider for Hyundai and Kia dealers in the UK, has privately placed a debut securitization of UK auto loans.

    • 29 Jan 2014
  • Dutch arm of CredAg Consumer Finance sells consumer loan ABS

    Crédit Agricole Consumer Finance Nederland has privately placed a rare securitization of Dutch consumer finance loans.

    • 29 Jan 2014
  • Dealers Scramble To Bid For Final ING Sale, But Investors May Hesitate

    Dealers today scrambled to submit bids for the Dutch government’s third and final sale of $2.1 billion in ING’s remaining private-label residential mortgage-backed securities portfolio, but they may be met with more investor hesitancy than the previous sale when they turn around to sell the bonds, according to market participants.

    • 28 Jan 2014
  • Fewer Storm Clouds Over Spanish Mortgage Market—Fitch

    The rate of Spanish mortgages falling into arrears fell in the last quarter of 2013, according to Fitch Ratings, as the economy emerged from recession. But the rating agency expects house prices will only hit a trough in 2015, with arrears and non-performing loan ratios set to continue rising.

    • 28 Jan 2014
  • Investors Should Focus On Illiquid Bank Loans For Best Returns—RBS

    European bank deleveraging has presented credit investors with an enticing opportunity to move away from listed securities, such as asset-backed securities, and invest instead in unlisted loan portfolios, says Ganesh Rajendra, head of credit and mortgage strategy, EMEA, at Royal Bank of Scotland.

    • 28 Jan 2014
  • LCM Prices $624 million CLO; Mezz Continues Tightening

    LCM Asset Management hit the market with its first collateralized loan obligation of 2014, and the first to price since the ABS Vegas conference last week in Las Vegas.

    • 28 Jan 2014
  • Investors should focus on illiquid bank loans for best returns, says RBS

    European bank deleveraging has presented credit investors with an enticing opportunity to move away from listed securities, such as ABS, and invest instead in unlisted loan portfolios, says Ganesh Rajendra, head of credit and mortgage strategy, EMEA, at RBS.

    • 28 Jan 2014
  • Fewer storm clouds over Spanish mortgage market, says Fitch

    The rate of Spanish mortgages falling into arrears fell in the last quarter of 2013, according to Fitch, as the economy emerged from recession. But the rating agency expects house prices will only hit a trough in 2015, with arrears and non-performing loan ratios set to continue rising.

    • 28 Jan 2014
  • Regulators must act on securitization before it is too late

    When Mario Draghi said — for the second time— that the ECB would consider buying ABS to boost Europe’s economic prospects, everyone took note. Everyone, it seems, except Europe’s regulators, who have shown a reluctance to change their anti-securitization tack. It is time for them to swallow some pride and roll back the harshest securitization regulation — before it is too late.

    • 28 Jan 2014
  • Oando hopes to avoid long slog repeat with potential $1.5bn raise

    Oando, Nigeria's largest publicly quoted oil and gas firm, is seeking shareholder approval for a capital raise of up to N250bn ($1.52bn). It struggled through a deal a fifth of the size early last year.

    • 28 Jan 2014
  • Pipeline: Back To Business After Weeklong Industry Conference

    New issuance of asset-backed securities rekindled today after a weeklong respite for the Structured Finance Industry Group’s conference last week, bringing January new issuance volume to $11.2 billion, versus $8.96 billion for all of January 2013.

    • 27 Jan 2014
  • Congressman Calls For Scrutiny Of REO-To-Rental Securitizations

    Large institutional investors in single family rental properties are crowding out first-time home buyers who cannot compete with investors’ cash offerings, according to a letter and report signed last week by freshman Congressman Mark Takano (D-Calif.), who is requesting a hearing into the business.

    • 27 Jan 2014
  • ABS Vegas Recap

    Around 5,000 of you tempered bad weather, flight delays and long layovers to make it out to Las Vegas last week to the inaugural ABS Vegas conference from IMN and the Structured Finance Industry Group.

    • 27 Jan 2014
  • GMAC Bank Moves Closer To German Auto ABS Rivals

    GMAC Bank was able to bring its outstanding curve for German auto loan securitizations closer to other German program after tight pricing for its latest deal E-Carat 6.

    • 27 Jan 2014
  • Draghi Hints At ECB Buying, Calls For Bifurcated ABS Regulation

    European Central Bank president Mario Draghi did not rule out buying securitizations to help Europe’s economic recovery, while speaking on a panel at the World Economic Forum on Saturday.

    • 27 Jan 2014
  • GMAC Bank moves closer to German auto ABS rivals

    GMAC Bank was able to bring its outstanding curve for German auto loan securitizations closer to other German programmes after tight pricing for its latest deal E-Carat 6.

    • 27 Jan 2014
  • Draghi hints at ECB buying, calls for bifurcated ABS regulation

    ECB president Mario Draghi did not rule out buying securitizations to help Europe’s economic recovery, while speaking on a panel at the World Economic Forum on Saturday. But he lamented the state of the securitization market and called on regulators to do more to distinguish between plain vanilla ABS and more opaque securitizations.

    • 27 Jan 2014
  • BANIF finds swathe of investors for SME ABS

    Portugal’s BANIF demonstrated that demand for peripheral securitizations is buoyant and well diversified after it sold the senior notes in its securitization of Portuguese SME loans to more than 25 investors.

    • 24 Jan 2014
  • UniCredit frees up capital with infrastructure reg cap trade

    UniCredit has sold the riskiest two tranches of a portfolio of project finance loans to a US hedge fund, freeing up a chunk of capital that can either be used for new lending or help it meet tougher capital requirements.

    • 24 Jan 2014
  • Peripheral ABS open for business as BANIF preps SME deal

    Portugal’s BANIF could price its securitization of loans to SMEs on Friday, as investors continue to show concerted demand for peripheral paper in the secondary market.

    • 24 Jan 2014
  • CMBS loan repayments down in Q4, says Moody’s

    European CMBS loans reached their lowest rate of repayment for two years in the fourth quarter of last year, driven by the high leverage and lower quality of the under properties, according to Moody’s.

    • 24 Jan 2014
  • GMAC gets auto ABS rolling with VW next in line

    GMAC Bank got a solid response from investors this week for the first auto ABS deal of the year. Meanwhile, Volkswagen is set to keep auto ABS supply distinctly German after it mandated for a new VCL transaction.

    • 24 Jan 2014
  • Time to put up or shut up when lending in Russia

    Having the last laugh is satisfying — just ask Russia’s Siberian Coal Energy Co (Suek). The firm is on the verge of signing a hugely successful facility after almost all corners of the emerging market loan universe said that the deal would struggle because of its five year tenor — Suek’s third loan of this length since October 2011. The time has come for lenders to accept how things are, rather than grumbling about how they think they should be.

    • 24 Jan 2014
  • Secondary still bullish as hunt for yield continues

    The tone for higher yielding paper in the secondary market showed no sign of weakening this week, with spreads continuing to tighten despite lower trading volumes and fewer BWICs.

    • 24 Jan 2014
  • Regulation turns Spanish buyers off ABS, survey shows

    Spanish investors showed a preference for covered bonds and other bank debt over securitizations, blaming punitive regulation as the main factor turning them off European structured finance, a survey by Bank of America Merrill Lynch has revealed.

    • 24 Jan 2014
  • Outlook Dim For CRE Despite Recovering Fundamentals

    The outlook for commercial real estate and commercial mortgage-backed securities is not as bright as the recovery in fundamentals suggests and there could be trouble ahead for the asset class if things continue in the same direction, according to market pros at ABS Vegas.

    • 23 Jan 2014
  • Time Running Out To Soften Anti-ABS Bias In Global Regs—ABS Vegas Panel

    Regulators and policymakers across the globe risk strangling the supply of finance to the real economy, particularly in Europe, if they don’t improve cooperation and start regulating bad behavior rather than punishing the market as a whole, according to market experts at the ABS Vegas conference on Thursday.

    • 23 Jan 2014
  • Judge OKs CDO Class Action Against GS

    U.S. District Judge Victor Marrero of New York has ruled that institutional investors may proceed with their class action against Goldman Sachs over $2 billion in collateralized debt obligations the bank sold them.

    • 23 Jan 2014
  • Distressed RE Sales Up In 2013

    Distressed real estate sales represented 16.2% of residential property sales in 2013, up from 14.5% a year earlier, according to RealtyTrac.

    • 23 Jan 2014
  • Canada Proposes Tougher ABCP Regs

    Canadian regulators have proposed tougher regulations for third-part asset-backed commercial paper, five years after the asset-backed commercial paper market collapsed.

    • 23 Jan 2014
  • Liquidated U.S. RMBS Loss Severities Rise In Q4

    Loss severities on loans in U.S. residential mortgage-backed securities rose in the fourth quarter following six consecutive quarters of declines, according to Fitch Ratings.

    • 23 Jan 2014
  • U.S. Bank TruPS CDO Default And Deferral Rate Falls

    The combined default and deferral rate of U.S. bank trust-preferred securities collateralized debt obligations fell in December to 26.5% from 27.3% a month earlier, according to Fitch Ratings.

    • 23 Jan 2014
  • Atlanta Adviser Hires CMBS Expert

    Atlanta-based Angel Oak Capital Advisors has hired Kin Lee, formerly executive director at Nomura Securities International, as a senior portfolio manager who will focus on commercial mortgage-backed securities.

    • 23 Jan 2014
  • Natixis Securitizes $359.5 Mln In Conduit CMBS Loans

    Natixis Real Estate Capital has securitized $359.5 million of 24 loans in a conduit commercial mortgage-backed securities deal.

    • 23 Jan 2014
  • Q&A: Richard Johns, SFIG

    Total Securitization spoke with SFIG executive director Richard Johns on the issues topping the organization’s agenda, and recent developments within the group.

    • 23 Jan 2014
  • GMAC Bank Set For Tighter Pricing For German Auto ABS

    GMAC Bank will price the first European asset-backed securities deal of the year by the end of this week, after leads on its German auto loan ABS, E-Carat 6, put out initial price thoughts (IPTs) on Thursday morning.

    • 23 Jan 2014
  • JPMorgan Tops 2013 League Tables Second Year Running

    JPMorgan led the way in global asset-backed securities bookrunning in 2013 for the second year in a row, but its market share fell by almost six points to 13.2%, according to league tables compiled by Total Securitization and Dealogic.

    • 23 Jan 2014
  • The Trade Finance Securitization Market: Starting To Make Trax

    Ever since the world’s first rated issuance in 2006, “trade finance securitization” has been a buzzword in the banking industry.

    • 23 Jan 2014
  • What We’ve Got Here Is Failure To Communicate: Personal Reflections On Financial Reform And Securitization

    Over the last five years I, like many of you, have spent a lot of time engaged in understanding various proposed financial reforms aimed at securitization and preparing industry responses to such proposals.

    • 23 Jan 2014
  • Fed’s Actions Unlikely To ‘Taper’ Momentum For U.S. Credit Card ABS

    Positive U.S. macro and employment data has finally brought to bear the highly speculated tapering courtesy of the Federal Reserve.

    • 23 Jan 2014
  • 2014 Outlook—Global CLOs

    In 2014, the credit quality of new collateralized loan obligations will be strong, characterized by amortization in both the U.S. and Europe and by solid deal structures, a benign macroeconomic environment, and loosening credit in the U.S.

    • 23 Jan 2014
  • Another QM Challenge: Will A Loan Still Be Eligible Tomorrow?

    One lesson the mortgage industry learned during the recent financial turmoil: documentation matters.

    • 23 Jan 2014
  • Ex-SEC Chair: Expect ‘Improvements’ To Reg AB II This February, And A ‘Relaxed’ QRM

    Securitization professionals should expect long-awaited clarity on Regulation AB II in February at an open meeting of the Securities and Exchange Commission, according to former SEC chair Chris Cox at an industry conference in Las Vegas.

    • 23 Jan 2014
  • Reg To Challenge European CLO Resurgence

    The retention-stake rule is expected to present a challenge to the resurging European collateralized loan obligation market, which is expected to build on last year’s growth in 2014, according to Fitch Ratings.

    • 23 Jan 2014
  • Growth In Spanish RMBS Delinquencies To Slow

    Loan delinquencies in Spanish residential mortgage-backed securities are expected to continue to rise but at a slower rate in 2014 with high loan-to-value ratios remaining as the key default driver, according to Moody’s Investors Service.

    • 23 Jan 2014
  • European Repo Market Falls Sharply

    The European repo market has fallen sharply since June, dropping at least 8.2% since then, in part because of the European Central Bank’s liquidity offer, according to the European Repo Council of the International Capital Market Association.

    • 23 Jan 2014
  • Spanish Banks Exit Bailout Program

    Spanish banks have followed their peers in Ireland in exiting the Europe’s program for bailing out financial institutions.

    • 23 Jan 2014
  • Fitch Revises Stresses To SF LIBOR

    Fitch Ratings has revised the criteria it uses for stressing interest-rate risk in covered bonds and structured finance deals and has amended the stresses to the London Interbank Offered Rate and other such rates.

    • 23 Jan 2014
  • All Revenue league tables

    Dealogic league tables of total revenue transactions, full year 2013. Including Investment Banking, Debt Capital Markets, Equity Capital Markets, Mergers & Acquisitions and Syndicated Loan revenues.

    • 23 Jan 2014
  • International bonds league tables

    Dealogic league tables of bond transactions, last 12 months rolling. Includes SSAs, FIG, investment grade and high-yield corporates, emerging markets and ABS.

    • 23 Jan 2014
  • All Bonds league tables

    Dealogic league tables of bond transactions, last 12 months rolling. Includes SSAs, FIG, investment grade and high-yield corporates, emerging markets and ABS.

    • 23 Jan 2014
  • GMAC Bank set for tighter pricing for German auto ABS

    GMAC Bank will price the first European ABS deal of the year by the end of this week, after leads on its German auto loan ABS, E-Carat 6, put out initial price thoughts (IPTs) on Thursday morning.

    • 23 Jan 2014
  • Risk Retention Stokes Fears Of Stifling New Asset Classes

    Risk retention rules are likely to be a burden to existing asset classes in securitization, but the greatest threat is to new products that are evolving to meet the demands of the market, said panelists at Wednesday’s “Risk Retention Update” at ABS Vegas.

    • 23 Jan 2014
  • After Big Year For MSR Sales, Panelists Look Ahead

    Private-equity backed firms like Nationstar Mortgage, Ocwen Financial Corp. and Walter Investment Management Corp. will continue to pick up banks’ mortgage servicing rights in 2014, but servicing costs and decreasing supply could slow the pace of future transfers.

    • 23 Jan 2014
  • What’s A Bubble Look Like? Not This, Say Panelists

    Rising home prices in select local markets have caused some to cry “bubble,” but panelists at Wednesday’s “Macroeconomic Overview of the Global Economy and Outlook for 2014” discussion at ABS Vegas largely panned the idea, saying the national recovery is still heading in the right direction.

    • 22 Jan 2014
  • Strong Results Are No Reason To Dodge GSE Reform—Stegman

    Recent improvements in Fannie Mae and Freddie Mac’s quarterly results could overstate their true financial state, and must not distract policymakers from vital housing finance reforms, said Michael Stegman, counselor to the secretary of the Treasury for housing finance policy, on Wednesday.

    • 22 Jan 2014
  • Fitch Eyes Credit Enhancement For U.S. CMBS

    Underwriting of U.S. commercial mortgage-backed securities is expected to deteriorate after being the lone such metric to improve last year, according to Fitch Ratings, which says that “could translate to a spike in credit enhancement on new deals.”

    • 22 Jan 2014
  • Morningstar To Provide CMBS Ratings To Bloomberg

    Morningstar Credit Ratings says it will provide letter ratings of commercial mortgage-backed securities through Bloomberg Professional Service.

    • 22 Jan 2014
  • Fir Tree Commences Cash Tender Offer For RMBS

    New York-based Fir Tree Partners has commenced a cash tender offer for certain residential mortgage-backed securities subject to the proposed $4.5 billion RMBS settlement between JPMorgan Chase and institutional investors.

    • 22 Jan 2014
  • Pine River Said To Hire Structured-Credit Expert

    Hedge fund Pine River Capital Management is said to have hired James Lee, formerly global head of structured credit trading at Barclays, to assist in acquiring bank assets.

    • 22 Jan 2014
  • Kilowatt May Turn To Energy Securitization

    \Kilowatt Financial, which finances solar and efficiency projects, has a closed a credit facility with Citigroup, which may allow the firm “to launch a much-anticipated market for the securitization of consumer energy efficiency loans in the U.S.," according to Marshal Salant, managing director of alternative energy finance at the bank.

    • 22 Jan 2014
  • Wells Sells $39 Billion In Servicing Rights To Ocwen

    Wells Fargo has sold $39 billion, or 2%, of its residential mortgage servicing portfolio to Ocwen Financial.

    • 22 Jan 2014
  • Rental Market Poses Big Questions For Lenders

    New mortgage rules are forcing lenders to rethink the type of loans they can provide to borrowers and capital markets, but investors are asking a new question: is growing rental demand going to further upend the business for traditional mortgages?

    • 22 Jan 2014
  • UniCredit Frees Up Capital With infrastructure Reg Cap Trade

    UniCredit has sold the riskiest two tranches of a portfolio of project finance loans to a U.S. hedge fund, freeing up a chunk of capital that can either be used for new lending or help UniCredit meet capital targets.

    • 22 Jan 2014
  • Peripheral ABS Opens Up As BANIF Preps SME Deal

    Portugal’s BANIF has started roadshowing a securitization of loans to small and medium sized enterprises, as investors continue to show concerted demand for peripheral paper in the secondary market.

    • 22 Jan 2014
  • Volkswagen Joins Growing Euro ABS Pipeline

    Volkswagen Financial Services has turned to its VCL program for its first auto lease securitization of the year, adding to growing momentum in the European asset-backed securities pipeline.

    • 22 Jan 2014
  • Inaugural ABS Vegas Confab Kicks Off Despite ‘Bombogenesis’ Storm

    A heavy storm stranded an unknown number of securitization professionals on the East Coast from making their way out to the first day of the inaugural ABS Vegas conference at the Cosmopolitan Hotel in Las Vegas, but organizers IMN and the Structured Finance Industry Group held out hopes that attendance would gain momentum Wednesday.

    • 22 Jan 2014
  • Portuguese Lender Launches Covered Bond

    Portuguese lender Caixa Geral de Depósitos has launched a EUR750 million ($1.015 billion), five-year covered bond.

    • 22 Jan 2014
  • Tough FTT Urged

    Algirdas Semeta, the European Union’s commissioner for tax affairs, is calling on the E.U. to resist diluting financial transaction taxes but said the levy could be introduced more gradually.

    • 22 Jan 2014
  • Portuguese RMBS Continue To Stabilize

    Performance of Portuguese residential mortgage-backed securities continued to stabilize in the four-month period ended Nov. 30, according to Moody’s Investors Service.

    • 22 Jan 2014
  • Irish Airline Mulls Asset-Backed Bonds

    Irish air carrier Ryanair is considering tapping capital markets for the first time with asset-backed bonds, among other instruments, according to James Dempsey, the firm’s corporate treasurer.

    • 22 Jan 2014
  • Secured Lending Soars 45%

    Secured lending soared 45% to £493 million ($816.8 million) in 2013 from a year earlier, though was down 13% in December from a month earlier, according to Loans Warehouse’s Secured Loan Index.

    • 22 Jan 2014
  • Negotiators Still Apart On E.U. Banking Union

    Martin Schulz, president of the European Parliament, says the legislation proposed for creating a banking union for the European Union may not be adopted as disagreements still exist among negotiators.

    • 22 Jan 2014
  • Wind Power Developer Names SF Chief

    German wind-power developer Sowitec has named Rosa Tarrago as head of structured finance.

    • 22 Jan 2014
  • ABS Vegas 2014 Issue PDFs

    • 22 Jan 2014
  • Volkswagen joins growing ABS pipeline

    Volkswagen Financial Services has turned to its VCL programme for its first auto lease securitization of the year, adding to growing momentum in the European ABS pipeline.

    • 22 Jan 2014
  • U.S. CMBS Originations Surge 89%

    Originations of U.S. commercial mortgage-backed securities is said to have surged 89% in 2013 to roughly $84 billion, and is expected to reach $100 billion in 2014.

    • 21 Jan 2014
  • Agency Single-Family MBS Down 7.1%

    Issuance of agency single-family mortgage-backed securities dropped 7.1% in 2013 after peaking in April.

    • 21 Jan 2014