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Two lenders entering administration should signal to others: simplify the industry
News could lead bank funding to dry up, after strong run of demand in private market
L&G's head of portfolio management on everything equity release after debut deal
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Bonds in Northern Rock’s U.K. residential mortgage trade Granite continue to rise on the back of last week’s tender announcement, but elsewhere the secondary ABS sector remains slumbering, according to traders and investors in London.
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Performance of automobile loan and lease asset-backed securities in Europe, the Middle East and Africa improved in April as 60-day-plus delinquencies fell to 0.83% from 1.06% a year earlier, according to Moody’s Investors Service.
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Portugal’s Caixa Económica Montepio Geral will buy back €185.3 of RMBS and senior unsecured paper through its cash tender offer, it said on Wednesday.
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Leads tightened guidance on the A1 tranche of Achmea Hypotheekbank’s DMPL X prime RMBS transaction on Wednesday, as demand for the paper reached more than double what is being publically offered.
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Default risk of loans in U.S. residential mortgage-backed securities continues to improve gradually in the second quarter, largely due to falling home prices, which are likely to hit bottom next year before recovering, according to Fitch Ratings. .
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Uncertainty related to aspects of the Dodd-Frank Act has caused many traditional issuers of residential mortgage-backed securities to delay their issuance plans, according to Fitch Ratings.
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Banks acting as counterparties in securitizations are set to begin work swiftly to address the effects of Moody’s Investors Service’s sweeping bank downgrades last week, which will have a far-reaching effect on securitization deal ratings.
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Housing finance provider Tamweel, owned by the Dubai Investment Corporation, has gone out with price guidance for its $235m Shariah compliant RMBS.
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Leads have started taking orders for DMPL X, a prime RMBS from Dutch lender Achmea Hypotheekbank, after launching price guidance that market participants said was tight.