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Latest news
Cerberus buys Lendco, Advanzia's German credit cards, and CLO resets pause
Deal primarily backed by loans originated by specialist lender RNHB
Blackstone priced its triple-As well inside guidance
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Freddie Mac has filled the void left by former vice president and chief economist Frank Nothaft, who left for a head economist job with property data provider CoreLogic in January.
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Having got through the crisis is good shape, senior tranches of European ABS and RMBS are highly unlikely to experience high losses in the future, Moody’s said on Tuesday.
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RPM Mortgage, a speciality lender with plans to securitize non-qualified mortgages, has disputed statements made by the Consumer Financial Protection Bureau regarding a settlement over allegedly illegal mortgages. -
Market participants are expecting another year of steady home price appreciation, which should bode well for investors in securitizations of non-performing loans.
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Lloyds Bank this week issued Penarth 2015-2, a credit card receivable that was priced at exactly the same level as its earlier deal in March. Meanwhile ING Bank priced Orange Lion RMBS, its first securitization in two years.
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In the space of a week the European securitization market will have seen the first post-crisis residential mortgage backed securities from Ireland and Spain since 2007.
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Central banks and official institutions took down nearly a fifth of Unión de Créditos Inmobiliarios’ post-crisis debut in Spanish RMBS — the first such deal since 2007 — despite the deal being priced at what a banker on the deal acknowledged was an aggressive spread.
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ING’s first appearance in the Dutch RMBS market in two years is looking like a success as it closes in on pricing on Wednesday.
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Freddie Mac received the tightest pricing yet for the subordinate notes of its new risk transfer issuance, and the agency could have sold more of them if it wanted.
