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
More articles
-
Freddie Mac priced $263.5m of STACT 2018-SPI2 notes on Wednesday, its largest deal to date in its newest category of unsecured credit risk transfers (CRTs). CRTs are a form of credit insurance on the mortgages held by Freddie Mac. -
The Government National Mortgage Association (Ginnie Mae) has barred three non-bank lenders from contributing home loans made to military veterans to its multi-issuer mortgage-backed securities because of concerns over rapid loan refinancing at the firms, writes Alexander Saeedy.
-
NN Bank paid a generous premium for the first Dutch conditional pass through (CPT) covered bond of 2018. The deal emerges in the wake of the European Commission’s decision to halve capital charges for certain securitizations, a move which may cause some banks to reconsider RMBS issuance.
-
Treasurer of Obvion and champion of the Storm Dutch RMBS programme, Max Bronzwaer, is set to retire at the end of July, handing over duties to Rachelle Rijk, according to an announcement from the lender on Friday.
-
Redwood Trust on Wednesday announced the latest RMBS transaction from its Sequoia shelf, a $410m offering backed by prime home loans.
-
Risk retention in securitization, designed to make sure players have ‘skin in the game’, has driven a trade that seems almost the opposite – investment banks profiting by using their market stature to hold risk retentions instead of their clients. Barclays is the most recent player to take advantage, and for the lowest fee yet.
-
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.
-
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.
