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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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The Bank of England has set out new powers that would allow its UK regulators to restrict residential mortgage lending, including in the buy-to-let market, to “protect and enhance” financial stability. -
JP Morgan Mortgage Trust’s planned $483.56m jumbo RMBS issue is backed entirely by adjustable rate mortgages. The deal has raised concerns over the potential for payment shock to cause defaults in the loans.
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The Consumer Financial Protection Bureau wants to make written complaints public on its online consumer complaints database. Unsurprisingly, the Mortgage Bankers Association objects. But when online customer reviews have empowered consumers in other sectors, why should the banking industry get special treatment?
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Recovering Irish residential property prices will yield Royal Bank of Scotland’s Ulster Bank division £300m of net impairment provision releases in the third quarter of 2014, the UK banking group said in a trading performance update to the market on Tuesday.
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Dutch insurer and mortgage lender Aegon will looking to emulate the success of compatriot Obvion in the RMBS market next week after mandating banks for a roadshow. Obvion set a post-crisis record tight with its latest Storm RMBS last week as investors pile in to European ABS in anticipation of buying from the ECB, which could be launched as early as next week.
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Two of the most regular issuers in the European securitization market proved the European Central Bank’s ABS purchases were no simple compression trade this week, printing large trades that reset the tight end of the market.
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UK Asset Resolution’s restructuring of the Aire Valley RMBS master trust has prompted a possible Moody’s upgrade for the bonds, since it will strip out poor quality loans making up around 50% of the pool.
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Fitch has put specialist UK mortgage lender Kensington Mortgages’ special servicer rating on its "evolving" list, pointing to uncertainties created by Investec’s recent sale of the business to Blackstone and TPG Capital.
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Both tranches of Obvion’s Storm 2014-III Dutch RMBS transaction were set to be priced well inside initial guidance on Thursday, showing it is not just the wider end of the ABS market benefitting from the European Central Bank’s backing.
