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This is the second RMBS deal from the PIF-backed issuer
Volkswagen also added a UK auto ABS to the primary
Invictus, Annaly, JP Morgan to print a billion dollars each next week
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Rising default rates and uncertainty over the ability of banks to make recoveries leaves Greek RMBS senior noteholders in an increasingly precarious position, ratings agency Fitch told EuroWeek.
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Springleaf Financial, the consumer lending arm of Fortress Investment Group, has privately placed its second residential mortgage deal of the year.
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Fitch Ratings says it is revising its rating criteria for Irish residential mortgage-backed securities after projecting that mortgage delinquencies and house price declines are likely to be worse than initially forecast.
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UK non-conforming RMBS and buy-to-let spreads continue to track UK prime spreads inwards, raising the prospects for non-prime issuance after the summer, ABS bankers have told EuroWeek Structured Finance.
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Goldman Sachs has agreed to pay $26.6 million to investors that charged in a class action that the investment bank misrepresented the mortgage-backed securities it sold to them.
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Avis Budget Rental Car Funding has completed an offering of $690 million asset-backed securities, the proceeds of which will be used to refinance ABS debt maturing in 2013 with a blended interest rate of roughly 5%.
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Angelo Gordon is preparing to launch the AG Securitized Asset Recovery Fund, which will invest in residential and commercial mortgage-backed securities.
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Long-term arrears in U.K. nonconforming residential mortgage-backed securities have improved from their peak of nearly 21% in 2009, decreasing to around 16%, according to Barclays.
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John Hancock Life Insurance has filed a lawsuit against Ally Financial, alleging that its Residential Capital unit committed fraud for the “wholesale and systematic abandonment of underwriting guidelines” the sale of 50 residential mortgage-backed securities between 2003 and 2007.