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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Banca Carige, the Genoese bank going through a lengthy restructuring process, moved a step further towards its de-risking target this week by selling a €1.2bn portfolio of non-performing loans. -
US private equity firm Blackstone is returning to the Spanish RMBS market to fund a portion of a portfolio acquired from CatalunyaCaixa in 2015, as other large Spanish property portfolio sales stir hopes of greater supply from the sector.
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The outlook for securitizations of non-performing loans (NPLs), particularly from Greece, is set to improve in 2018 amid a more widespread pick-up in securitization volumes.
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Hurricanes Harvey, Irma and Maria have caused US mortgage delinquencies to rise to the highest level in four years, but policies put in place by government sponsored agencies have largely insulated mortgage credit risk transfer investors from any fallout.
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The number of Dutch borrowers with mortgage loans exceeding the value of their home fell in the third quarter as home price appreciation accelerated, according to Calcasa.
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UniCredit is seeking an Italian government guarantee for the senior tranche of a portfolio of securitized non-performing loans after gaining an important rating from Moody’s and DBRS on the notes, allowing it to go forward with its “failure is not an option” (FINO) asset disposal plan.
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Mars Capital managed to price Grand Canal Securities 2, a securitization of Irish NPLs, at relatively tight levels even though the subscription ratio was relatively thin on mezzanine notes.
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With three weeks in the year still to go, US securitization volume has reached a post-crisis high of $474bn, according to S&P Global Ratings.
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Nordea’s blowout additional tier one (AT1) offering on Tuesday took the instrument into unchartered waters in terms of pricing — beyond where some regular AT1 investors were willing to go. In covered bonds, supply-demand dynamics continue to favour issuers.
