Latest news
Latest news
Together added to the sterling market with a small ticket CRE CMBS
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
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Northern Rock Asset Management (NRAM) and Bradford & Bingley (B&B) have announced a £500m buyback of subordinate notes of Granite Mortgages and Granite Master Issuer, two series of Whinstone and three series of Aire Valley RMBS.
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The Netherlands’ Achmea Hypotheekbank has hired Barclays and Rabobank as lead managers for a new prime RMBS, DMPL X. The borrower will begin a roadshow on Thursday in London. Achmea issued its last DMPL RMBS in June last year.
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U.K. buy-to-let lender Paragon Mortgages is keen to launch a new issue of residential mortgage-backed securities later in the year, John Harvey, head of structured finance at the firm, told SI Tuesday.
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Housing finance provider Tamweel, owned by Dubai Islamic Bank, is looking to issue a dollar-denominated sukuk backed by the cashflows from residential Ijara contracts — the lease-to-buy arrangements in Islamic home finance.
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The Federal Reserve may buy only half as much in mortgage-backed securities in any new round of quantitative easing than the $1.25 trillion of MBS it purchased in the first round between January 2009 and March 2010, according to analysts at Barclays Capital.
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Loan delinquencies in Irish residential mortgage-backed securities have risen steadily since the third quarter of 2008, reaching an average of 16% in the fourth quarter of 2011, according to Standard & Poor’s.
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Portugal’s Caixa Económica Montepio Geral has targeted a buyback of up to €300m of outstanding RMBS and one EMTN.
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Performance of German residential mortgage-backed securities remained stable in the first quarter, with RMBS containing loans with low-to-medium loan-to-value performing better than higher LTV, according to Moody’s Investors Service.
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Delinquencies in loans in Irish prime residential mortgage-backed securities rose to a record in the first quarter, with the 90-plus day delinquency trend climbing to 13.99% and 360-plus delinquent loans to 5.5%, according to Moody’s Investors Service.