Latest news
Latest news
Non-qualified mortgage securitizer is bringing third deal of year for $424m
BINOM shelf used for latest deal
Vida Bank is also building up its funding team
More articles
More articles
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Second charge mortgage lending is growing rapidly in the UK, with market sources expecting it to become more common in UK RMBS transactions this year. -
The debut public RMBS from Together Finance, formerly Jerrold Holdings, saw strong levels of oversubscription and tight pricing across the capital stack, once again strong demand and favourable pricing available for issuers in the securitization markets.
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Santander UK’s master trust securitization was greeted with acclaim this week as it became the latest issuer to return to the securitization market ahead of the expiry of the Bank of England’s term funding scheme (TFS) next year.
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Before the Bank of England’s easy money schemes, UK issuers were reliant upon a deeper base of US buyers to get deals over the line. With the end in sight for the BoE’s Term Funding Scheme (TFS), sellers are looking to restore the link between the US and the UK markets to support sterling issuance.
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Virgin Money’s first prime UK RMBS deal of the year was well received by domestic buyers, but demand was particularly healthy in the US, with the dollar tranche of the deal heavily oversubscribed.
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Virgin Money's new UK RMBS, Gosforth Funding 2017-1, saw strong demand for both sterling and dollars in its new deal, despite much of the US market heading to Miami for IMN's ABS East conference.
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A secondary reoffer of RMBS notes from Banca Popolare di Bari hit the euro pipeline last week, but investors are cautious about the notes given the noise surrounding Italy this year.
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UK mortgage lenders are positioning themselves to re-enter the securitization market next year, as they wean themselves off the Bank of England’s Term Funding Scheme (TFS), which is slated to end in February 2018.
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MTGLQ Investors, a subsidiary of Goldman Sachs, has bought $2.4bn of mortgages from Fannie Mae, as investors eye the attractiveness of non-performing and re-performing mortgage credit in a strengthening US housing market.
