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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Royal Bank of Scotland announced on Thursday it was taking an extra $3.8bn provision related to its conduct in US RMBS underwriting, taking its total provision for that area up to $8.3bn. But it emphasised that it wasn’t in negotiation with the US Department of Justice over the settlement, and there could be much more to come. -
US Treasury secretary nominee Steve Mnuchin’s statement during his confirmation hearing that he did not support the recapitalisation and release of Fannie Mae and Freddie Mac should confirm observers’ suspicions that the new administration is not going to prioritise the reform of the government sponsored enterprises (GSEs).
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The US RMBS market will see diversity beyond prime jumbo deals in 2017 as investors range further afield for more varied credit and higher yields, said market participants.
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Swedish non-conforming mortgage lender Bluestep Bank is meeting investors next week in Stockholm to update them on its securitization programme, the only active RMBS shelf in the Swedish mortgage market.
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Morgan Stanley closed on Wednesday its Delft 2017 securitization of legacy Dutch nonconforming mortgages, originated by a former Lehman Brothers lender.
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Obvion priced its €2bn Storm 2017-1 RMBS at a record low spread for for five year Dutch RMBS paper since the financial crisis, and the lender has said it will continue to look to build on its range of RMBS transactions.
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The latest figures from the Mortgage Bankers Association show a small increase in mortgage applications during the first week of January, but year over year volume is down sharply.
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The European ABS market is riding a wave of what market participants describe as “mass bullishness” that is encouraging opportunistic sellers to securitize legacy assets, some of which date back to before the credit crisis. David Bell reports.
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Swedish lender Bluestep Bank is said to be considering a new non-conforming RMBS deal, with the lender expected to host an investor day this month.
