Latest news
Latest news
In March Lone Star closed its fourth residential mortgage fund at over $1bn
Bank’s relationship with SpringCash is ‘commercial’
Deal is the first seasoned performing and reperforming loan deal for Mill City Mortgage this year
More articles
More articles
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Could the European securitization market’s much-vaunted and long-expected “simple, transparent and standardised” framework end up dead on arrival? That’s the worry for market participants who think securitization could be hollowed-out by the European Central Bank’s third TLTRO, writes Tom Brown. -
Foundation Home Loans, the trading name of Paratus AMC, has entered into a new £350m warehouse credit line with National Australia Bank to support the origination of new mortgages.
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EU institutions are working toward a deal on a draft directive establishing secondary markets for non performing loans (NPLs). It is to be the final piece of the NPLs "action plan" unveiled in March by the European Commission.
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The end of Libor is nigh, but the requisite market activity to build Sofr — the alternative to dollar Libor that has been pitched — into a predictable term rate is still remarkably sparse, potentially leaving issuers dependent on Libor with an unreliable alternative if the rate is no longer quoted after 2021.
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The Federal Housing Finance Agency (FHFA) last week published its final set of rules on the alignment of prepayment speeds for the forthcoming uniform mortgage backed security (UMBS).
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The Northview Group is preparing to issue a new RMBS from its Finsbury Square shelf, with Citi as arranger and BNP Paribas, Deutsche Bank and National Australia Bank as managers. Also in the pipeline is Ellington's Irish RPL deal and a Swiss franc auto ABS.
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Irish republican party Sinn Féin has proposed a mortgage bill dubbed ‘no consent, no sale’, which would seek a borrower’s agreement before selling mortgage loans to another owner, either abroad or domestic, in a move which could end the securitization market in Ireland.
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Banca Carige, the struggling Italian lender, said this week that it was looking for €630m of new equity capital to carry out an ambitious plan to bring its non-performing exposure (NPE) ratio down to 6%-7% from 22%. The institution is also hoping to overhaul its funding sources, faced with replacing €5.5bn of financing from the Italian government and the European Central Bank.
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With the launch of the uniform MBS just months away, the merger of the markets for Fannie Mae and Freddie Mac securities – worth a combined estimated $3.7tr – is imminent, though hurdles remain before the ‘single security’ goes live and investors lose the ability to buy a specific GSE's bonds in the TBA market.
