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
More articles
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According to Wells Fargo, monthly CMO issuance in June dropped to $8.9bn, representing roughly a $11bn decline versus May. The decline has been broad based, with fixed-rate pass through agency CMOs declining to $800m versus $3bn in May. -
Real estate giant Starwood Property Trust, the largest commercial mortgage REIT in the US, is changing tack and pushing into a corner of residential mortgage space that has struggled to revive since the financial crisis.
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Clydesdale Bank priced its Lanark 2018–2 RMBS deal on Thursday in a busy spell for the European primary market, with the offering highlighting strong demand for short-dated dollar paper.
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Freddie Mac auctioned off a pool of residential mortgage insurance contracts from its ACIS shelf late on Monday, which will cover up to $300m of losses on $19.1bn of 15 and 20-year mortgages purchased by the agency between May 2017 and February 2018.
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Angel Oak announced on Monday that it had completed its largest RMBS deal to date, AOMT 2018-2, backed by 1,096 mortgages with an average loan size of $366,797. Deutsche Bank and Nomura were joint bookrunners on the deal.
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In its mid-year outlook on structured finance, JP Morgan analysts said that while valuations of MBS are attractive in an evolving macro context, evolving dynamics in mortgage bond supply and a rising CRE CLO market could create some degree of spread widening across the market.
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The White House has floated proposals to end the duopoly of Fannie Mae and Freddie Mac in mortgage finance and scale back the government’s footprint in the housing market, as part of a broader plan to reform and downsize the US federal government.
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The private label RMBS market in the US is buzzing with activity as the first half of 2018 comes to an end, with issuers lining up a number of deals to be priced through the end of this week and early next week.
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The European primary ABS market has kicked into high gear in the weeks since the Global ABS conference in Barcelona, which ended on June 7. RMBS is particularly in focus as banks return to the market, with the tide of cheap central bank money ebbing away.
