Latest news
Latest news
Dutch mortgage provider launches its second public RMBS of the year
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
More articles
More articles
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The issuer and trustee in the RMAC deals at the centre of the tussle between Clifden IOM and Paratus AMC said they have yet to receive proof that Clifden holds the notes it needs to amend the bonds. -
VW Finance has announced a new auto ABS transaction, while Charter Court has set guidance on its latest UK RMBS and Elan Woninghypotheken’s latest Dutch RMBS is set to be priced.
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American Insurance Group is launching a prime jumbo mortgage RMBS deal through its own shelf for the first time, following two deals last year that were placed through Credit Suisse’s conduit platform.
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Charter Court Financial Services hit screens on Tuesday with its second UK RMBS of the year, Precise Mortgage Funding 2018-2B, while Santander UK’s Holmes also raced forwards to tap post-Vegas dollar demand.
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Investor sentiment at SFIG Vegas 2018 was that MBS and other mortgage investments are now “fully priced”, though buyers are not worried that the market will reverse course dramatically in the near term, wrote analysts at JP Morgan in a note on the back of the event.
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Santander UK has mandated joint leads for a prime RMBS off its Holmes shelf with a view to placing notes in sterling and, for the third time this year for a UK issuer, in dollars.
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Clifden IOM No. 1 revealed its strategy on Monday for the RMAC bonds that were offered into its controversial tender — but the fund’s approach is still fraught with risk, and Paratus AMC was quick to issue another notice trying to sink the tender.
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Cerberus Capital Management has bought Bluestone Group’s Australian mortgage lending and portfolio servicing business, the latest of a string of private equity firms to acquire non-bank mortgage lending firms in the country as banks temper their lending activities.
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Before it launched its public tender offer for UK non-conforming RMBS bonds in the RMAC and RMACS series, hedge fund Clifden IOM No 1 tried to sell the mortgages backing the bonds in a private transaction, angering potential buyers and financiers when they found out the fund did not own the assets. Owen Sanderson reports.
