Latest news
Latest news
UK lender has placed €1.5bn of Dutch prime RMBS paper this year, doubling its annual issuance
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
More articles
More articles
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Representations and warranties and enforcement frameworks have been weak in non-prime US residential mortgage-backed securities, said Moody’s this week, in contrast to recent prime jumbo transactions. -
UK RMBS investors are eagerly eyeing a debut securitization from Optimum Credit, Castell 2017-1 PLC, which is backed wholly by second lien mortgages.
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American International Group (AIG) has launched a debut prime jumbo RMBS deal backed by collateral described by Fitch Ratings as among the strongest seen since the financial crisis.
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Twin Bridges 2017-1, a UK buy-to-let RMBS deal issued by Fortress subsidiary Paratus AMC, is being marketed to RMBS investors eager for exposure to UK mortgages.
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Italian banks are the most likely financiers of their own non-performing loan (NPL portfolio sales, thanks to the structure of the government guarantee scheme, and the difficulty of executing large NPL trades with external finance. Portugal, too, looks set to go down the same road.
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US mortgage credit risk transfer and single family rental bond sellers hopped across the pond this week to tap up new European investors for their credit products, with Freddie Mac and Colony American Finance speaking on a panel at Global ABS in Barcelona on Thursday.
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Despite quantitative easing measures contributing to persistent shrinking in the size of the European RMBS market, panellists at Global ABS on Wednesday were optimistic that the tapering of central bank funding schemes would see a resurgence of supply, as new non-bank lenders grow market share and banks look to refinance retained deals.
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UK buy-to-let deal Oat Hill No.1 and a pair of European CLOs were priced on Friday, as market participants prepared to descend on Barcelona for Global ABS, which kicks off Tuesday.
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Banking is the business of confidence and trust. While the real work of cleaning up balance sheets is important, being seen to act swiftly, decisively and comprehensively is just as important. Impressions matter — whatever the underlying reality.
