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
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The new Securitization Regulation, due to come in on January 2019, could unintentionally block banks from disposing of legacy assets, pushing some buyers and sellers to try to accelerate trades to get them done before the end of the year. -
The new issue European ABS market ploughed on this week, attracting investors still keen to add risk in the face of broader market skittishness. BNP Paribas sold €384m of mezzanine tranches from a French consumer loan ABS, while Argenta Spaarbank shifted €1bn of RMBS.
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Weakening standards for mortgages eligible for purchase by government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac threaten to erode the credit quality of credit risk transfer and other RMBS that contain GSE-eligible loans, according to a report from Moody’s issued on Monday.
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Freddie Mac has changed the structure of its latest credit risk transfer (CRT) deal to reduce counterparty risk for investors in the event that the agency is no longer under conservatorship.
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Two sterling MBS transactions in the market have been tightened from initial price talk, reflecting a healthy sterling bid for paper.
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Rabobank priced the latest green RMBS deal from its Obvion subsidiary last Friday, keeping the size of the deal in line with last year’s transaction as it offered €550m of senior notes but reducing the discount margin by 3bp.
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Goldman Sachs has published initial guidance on the £427m of notes issued under its UK single loan CMBS, Ribbon Finance 2018-1, while Lloyds is out with initial guidance on UK RMBS Charter Mortgage Funding 2018-1.
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Lloyds Banking Group on Friday announced the sale of its £4.3bn Irish residential mortgage portfolio to Barclays.
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US mortgage lenders are resurrecting a private label RMBS market that has lain dormant for several years since the financial crisis, as investors chasing yield show interest in deals with riskier credit and looser underwriting. David Bell reports.
