Latest news
Latest news
Some deals resemble the bank SRT market but there is room for independent sponsors to put trades together
Market participants gathering in Stavanger will focus on market growth
Mezz and certificates go on offer, testing new execution strategy
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Investors placed more than £2bn of orders for Clydesdale Bank’s Lanark RMBS, pushing the notes larger and tighter than initially indicated.
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Europe’s residential mortgage-backed market continues to see a “very good bid” for shorter-dated bonds in both primary and secondary markets, particularly at the prime AAA end of the capital structure, market officials say.
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Clydesdale Bank’s Lanark 2012-2 RMBS is set to price through initial guidance after investors keen for yield rushed into the dollar and sterling tranches. Demand for the £750m deal had reached £1.5bn by Thursday afternoon.
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The U.S. Government Accountability Office says the Independent Foreclosure Review process designed to compensate borrowers for errors made by mortgage servicers is seriously flawed, citing inadequate communication for the program’s low response rate, among other problems.
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Bank of America has agreed to pay $375 million to settle claims by bond insurer Syncora that it suffered millions in losses in connection with mortgage-backed securities sold by the bank’s Country Financial unit.
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Initial price talk on Clydesdale Bank’s Lanark Master Issuer 2012-2 emerged Wednesday as the prime U.K. residential mortgage securitization reaches the final stages of the U.S. leg of its investor roadshow.
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Leads on Clydesdale Bank’s Lanark 2012-2 RMBS have released initial price thoughts and opened books, as the Scottish borrower begins a final day of US investor meetings.
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Ben Logan, managing director at Markit, will leave the data provider July 20.
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A new residential mortgage-backed trade in Europe is in the works and the issuer could be under pressure to get the trade out before the summer slowdown, according to London officials.