Latest news
Latest news
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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The U.S. Federal Housing Finance Agency has turned down a request by the Department of Treasury to change its policy of not permitting principal write-downs for loans guaranteed by Fannie Mae and Freddie Mac.
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U.S. District Judge Richard Stearns of Boston has rejected a motion by JPMorgan Chase to dismiss a lawsuit charging the bank for mishandling loan modifications, and “gross ineptitude” of a bank unit in connection with loan modifications by prolonging the process, imposing additional fees on loans in default and starting foreclosures after homeowners filed for workouts.
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The mortgage-backed and asset-backed securities markets continued to tighten last week on low supply and the search for relative yield, with analysts at Bank of America Merrill Lynch predicting further tightening of five to seven basis points in short and medium duration paper.
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The mortgage-backed and asset-backed securities markets continued to tighten last week on low supply and the search for relative yield, with analysts at Bank of America Merrill Lynch predicting further tightening of five to seven basis points in short and medium duration paper.
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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 has told Euroweek Structured Finance.
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Belgium’s Royal Park Investments has filed a lawsuit against several banks, including JPMorgan Chase and Goldman Sachs, for allegedly misrepresenting the underwriting standards they used to issue the loans packaged into $3.2 billion in residential mortgage-backed securities they sold the firm.
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Berkshire Bank has filed a lawsuit against 21 banks, including Bank of America, Barclays, JPMorgan Chase and Citigroup, for allegedly manipulating the London Interbank Offered Rate, resulting in lower interest payments it received.
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Standard & Poor’s has changed its outlook on Royal Bank of Canada, Toronto-Dominion Bank and five other Canadian banks from stable to negative because of “a prolonged run-up in housing prices and consumer indebtedness.”
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Demand for prime RMBS could grind spreads tight enough to stop a rush of UK banks tapping the Bank of England’s Funding for Lending Scheme (FLS), ABS market participants told EuroWeek Structured Finance.