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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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Lloyds Bank will be the next UK lender to leverage foreign demand for its assets, after compatriots Santander UK and Paragon found favour in both dollars and euros this week.
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The UK government wants to leverage surging demand for exposure to the country to offload some £13bn of mortgages it acquired from Northern Rock after the collapse of Lehman Brothers, writes Tom Porter. -
Covered bonds and RMBS share important similarities, as both the European Central Bank and Bank of England acknowledged last year in a discussion paper. As the two asset classes evolve, the vastly different regulatory regimes applied to each should become more difficult to justify.
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A large all-or-nothing bid list for a legacy, non-agency RMBS resecuritization is set to trade this Friday and has been moving markets, traders have told GlobalCapital.
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Five Oaks Investment Corp is on pace to acquire enough jumbo mortgages to launch its own securitization platform by the second quarter, the company announced on Monday.
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Paragon Mortgages is looking to leverage good demand for the senior notes of its Paragon 22 buy-to-let RMBS, with leads testing 10bp inside initial guidance on the euro portion.
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Santander UK has set a £1bn maximum size on its three tranche, dual currency Fosse UK master trust RMBS, after pulling in demand equivalent to over £1.6bn.
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Many mortgage servicing rights transfers have not complied with rules finalised by the Consumer Financial Protection Bureau two years ago, according to a staffer at the agency.
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Regulators should loosen their scrutiny of special mortgage servicing companies, like Ocwen Financial and Nationstar mortgage, to avoid a capacity crunch in the sector, said industry heads on Monday.
