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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Everything’s coming up resi, with the strong US economic background providing firm support for a market that has changed drastically since the crisis. -
Goldman Sachs is marketing the full capital structure of its EDML 2018-1, an arbitrage-driven Dutch RMBS secured on prime residential mortgages.
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If the FHFA publishes its ‘conservatorship capital framework’, its secret rules for monitoring the health of the government sponsored enterprises as some members of Congress want, sources say that it could kick start the private risk transfer market for banks, which has been moribund since JP Morgan failed to gain full regulatory support for its risk transfer RMBS program in 2016.
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Home Equity Lines of Credit (HELOCs) have been given little attention by ABS players since financial crisis, but a combination of rising home prices and a favorable outlook for the real estate market have rejuvenated the asset class, spurring more talk of securitization.
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Investors have been urged to accept a beefed up tender offer from hedge fund Clifden IOM Holdings for several pre-crisis non-conforming UK RMBS deals from the RMAC shelf, despite originator Paratus AMC threatening legal action against anyone that goes along with Clifden's move.
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Paratus AMC, the originator of the RMAC series of UK non-conforming RMBS bonds, has hit back at hedge fund Clifden IOM No.1’s attempt to seize control of the deals, hinting ominously at potential legal action. It is the latest chapter in a vicious tussle between the two entities for the right to gain control of the underlying mortgage collateral.
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Revisions of mortgage risk weights proposed by the Australian Prudential Regulation Authority are credit positive for the country’s banks. The revision may result in a higher composition of riskier loans in prospective capital relief RMBS trades, according to Moody’s.
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Clifden IOM Holdings has beefed up its tender offer for several pre-crisis non-conforming RMBS issues, in a last-ditch attempt to fend off the redemption of the bonds by their originator. With the hedge fund offering 105, investors have every reason to hit the bid, but the clock is ticking, as the originator has already activated the call.
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Obvion placed an ultra-long European residential mortgage-backed security on Thursday, dropping the usual five year call from its Storm prime mortgage shelf, and extending the weighted average life of the notes over 10 years.
