Latest news
Latest news
Newcastle is marketing a prime RMBS, while Enra offers a first charge non-conforming RMBS
BPCE also added a French prime RMBS to the pipeline
Acquisition will enhance origination and servicing platform capacity, says buyer
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A divided panel of three appellate judges ruled late on Monday that the organization of the Federal Housing Finance Agency (FHFA), which oversees US mortgage giants Fannie Mae and Freddie Mac, violates the spirit of the US Constitution. -
Cerberus Capital Management is exploring options for Auburn 9 — a UK buy-to-let RMBS sold in 2015 — and is considering a sale of the entire mortgage portfolio before the next interest payment period in August, according to a regulatory filing last week.
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At a panel held at the American Enterprise Institute in Washington, DC on Thursday, the former director of the Federal Housing Finance Agency (FHFA) from 2009-2014 defended the duopoly of Fannie Mae and Freddie Mac, stating it was economically necessary for the agencies to buttress the mortgage market.
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The European Central Bank said this week it wants banks to provision for legacy non-performing loans in the same way as for new NPL inflows. But, in a major boost for Europe's weakest banks, it is prepared to give heavily burdened banks more time to raise provisions.
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Fannie Mae has announced a pilot programme that would see the government-sponsored enterprise wade deeper into the mortgage insurance business, a move that some critics warn could further distort American housing finance.
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Iccrea Banca, the banking group owned by Italian mutual banks, announced the completion of a €1bn NPL securitization transaction on Tuesday, pooling loans from multiple originators, with an application now pending for a state guarantee (GACS) for the senior tranche rated Baa3/BBB- by Moody’s and Scope Ratings, respectively.
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As demand for investments with good environmental, social and governance credentials rises, are non-performing loans the ultimate social asset class — or toxic waste that ESG investors should disdain?
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Wall Street is accelerating its expansion into the US rental housing market, taking advantage of the continuing trend away from homeownership, though securitization has yet to reap the full benefit.
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Värde Partners, Barclays and Guber Banca announced last Friday the acquisition of a €1.4bn book of non-performing loans (NPL) originated by 53 cooperative banks, rural banks and popolari banks in Italy.
