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Latest news
Cash SRT pipeline fires up earlier than usual
A new European data centre sponsor, Dutch buy-to-let back in business, CLO equity squeezed and a Bitcoin backed deal
€300m of reoffered bonds priced at par, another tranche to be placed privately
More articles
More articles
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Non-qualified mortgage lender Sprout Mortgage has hired a senior vice president of correspondent lending in its Southern California office. -
Bank of America is arranging the first sterling RMBS of the year, Precise Mortgage Funding 2020-1B, a £432m deal from Charter Court’s securitization platform.
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Obvion has mandated JP Morgan and Rabobank for a Dutch prime RMBS from its Storm programme, the first securitization of the year to receive the ‘simple, transparent and standardised’ (STS) designation.
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Morgan Stanley is bringing the first European RMBS deal of the year, the Dutch Delft 2020, a €268.3m deal backed almost entirely by interest-only loans.
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Redwood announced on Thursday that it is prepping the first RMBS transaction of the new year, a $459.3m deal backed by highly seasoned loans from its Sequoia shelf.
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The new year looks set for a strong start in the securitization market, with SPV filings suggesting that many repeat issuers are already preparing their deals across asset classes.
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Deutsche Bank has been mandated on Alpha Bank’s ‘Project Galaxy’ NPL sale, likely to be the first to use Greece’s new non-performing loan guarantee scheme known as ‘Hercules’. Like its compatriot Eurobank, the sale will include the spin-off of an NPL management division as well as the loan exposures themselves.
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JP Morgan has arranged an Italian non-performing loan securitization for Guber Banca. The deal parcels a €1.25bn book, in only the third Italian NPL securitization not to use the government’s GACS guarantee scheme since it was introduced. Class A notes in the deal may be sold next year, subject to market conditions.
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Market participants are expecting 2020 to be a very active year for covered bonds, with new issuance volume underpinned by growth in French and German banks' mortgage books.
