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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
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Four months after acquiring a €5bn Irish mortgage pool from Lloyds, Barclays announced an RMBS transaction to securitize part of it last Friday. -
Arrangers and joint leads JP Morgan and Lloyds are marketing Oak No.2 Plc – a prime UK RMBS from challenger bank Aldermore, according to an announcement last Friday.
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UK insurer Just Group said in its half-year results on Thursday that it had the flexibility to issue tier two or restricted tier one capital, amid worries about the impact on its capital of the Prudential Regulation Authority’s proposal for equity release mortgages.
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Deal flow is picking up across US structured products midweek, with investors offered a smattering of securitized assets including a Sallie Mae private student loan deal and a non-agency RMBS offering from Flagstar.
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Barratt Developments said on Wednesday that its UK house completions have posted the "highest volumes in a decade", delivering some optimism to a market which has recently seen a dip.
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Brass No.7, a prime sterling UK RMBS from Yorkshire Building Society, hit the market this week, lining up behind a sterling buy-to-let (BTL) RMBS already in the pipeline. The deals will give market players a glimpse of where sterling ABS is pricing as summer winds down.
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Fund investors have taken on the senior debt supporting a €1.4bn acquisition of a Bank of Cyprus non-performing loan portfolio by Apollo Global Management last week, despite its lack of a rating.
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Regulatory pressures are pushing banks into shedding unwanted assets. And on the other side of the table, new investors have diversified the marketplace. Jasper Cox reports.
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The role of rating agencies in contributing to the 2008 financial crisis should not be forgotten. Inflated ratings on securities that turned toxic played a major part in the build-up of the financial bubble that later burst with costly consequences.
