Latest news
Latest news
Morgan's deal recalls Redwood's doctor-only pool in March
Select group of triple-A buyers hold significant pricing power
Cerberus buys Lendco, Advanzia's German credit cards, and CLO resets pause
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Veneto Banca has mandated lead managers for its second re-offering of Claris ABS 2011 notes this year, while another Italian deal backed by consumer loans could also hit the market as soon as next week as the European Central Bank’s impending purchases keep downward pressure on periphery ABS spreads.
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An anticipated wave of UK RMBS from the country’s large banks in the fourth quarter of this year is now unlikely to materialise, according to ABS bankers. The last two UK RMBS prints have met with underwhelming responses with sterling investors apparently holding on to cash, while a big sale of legacy RMBS from the UK’s bad bank last month widened the market and reduced appetite. -
Paragon Mortgages priced its buy-to-let RMBS at the wide end of revised guidance on Tuesday, and though the deal was comfortably covered it was another example of sterling investors refusing to chase primary deals tighter in recent weeks.
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BNP Paribas is set to retain over €1bn of RMBS notes backed by French residential mortgages, as spreads in the asset class remain too high to tempt French issuers away from covered bonds for funding purposes.
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Paragon Mortgages 21 was set to be priced on Tuesday afternoon, via Lloyds, Macquarie, Morgan Stanley and Natixis, while Charter Court lines up another non-bank UK RMBS, Precise 2014-2, arranged by Credit Suisse.
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American Homes 4 Rent is planning to buy more single-family rental properties to back another fixed rate securitization, but only if the price is right, the company’s executives said during an investor conference call on Monday.
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US government-owned mortgage guarantors Fannie Mae and Freddie Mac on Monday signed an agreement to capitalise and operate a new entity to operate the Common Securitization Platform, which will eventually sell a single type of security pooling mortgage loans from both firms.
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Invitation Homes’ fourth single-family rental (SFR) securitization was priced at 130bp over Libor on Monday — some 20bp wider than the issuer's last deal. Spreads have widened in the asset class over the last few months but some analysts think investors are still underestimating operational risks.
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Bank of Cyprus has completed the sale of its £289m UK loan portfolio to Mars Capital and Camael Mortgages, with bankers predicting more divestments from Europeans as they look to boost their capital positions in the wake of the European Central Bank’s health check.
