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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Corrado Passera, former CEO of Intesa Sanpaolo and government minister, is leading the promotion of a €500m special purpose acquisition company (Spac) focusing on financial services. -
Clifden IOM No.1, a real estate-focused hedge fund, has launched an audacious bid to take control of £2bn of pre-crisis UK mortgages, launching a tender that could forestall a refinancing of the portfolios by the original lender, Paratus AMC. Owen Sanderson reports.
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Kensington, which is now known as Northview Group (NVG), has issued its largest new origination RMBS transaction post-crisis at the tightest spreads.
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Demand for the mezzanine tranches of RMBS Finsbury Square has been strong, boding well for a series of new UK RMBS issues that hit came to market on Wednesday.
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Clifden IOM No. 1, a real estate-focused hedge fund, has launched a tender for UK RMBS bonds totalling £2bn from the RMAC series, which were issued before the crisis by non-conforming lender GMAC-RFC. The fund has stayed tight-lipped about its strategy, but some see it as an attempt to seize control of the collateral, following an announcement before Christmas that the original sponsors could call the deals.
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Agency credit risk transfer (CRT) RMBS has started 2018 in rally mode, with the secondary market performance of bonds across triple-B, double-B and unrated classes surpassing analysts' expectations.
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Rabobank has mandated lead banks for its first Storm RMBS deal of 2018, which is expected to be priced this week and could potentially set a new record.
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Kensington Mortgage Co was close behind Vauxhall Finance on Thursday in announcing its first securitization of 2018. The issuer declared its fifth Finsbury Square issue to fund an existing mortgage portfolio of £431m, plus up to £185m of pre-funding for new loans.
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The US Treasury and the Federal Housing Finance Agency (FHFA) agreed on Thursday to allow government sponsored enterprises Fannie Mae and Freddie Mac to maintain a $3bn capital buffer, reversing a previous plan that would have slashed the buffers to zero.
