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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Strong demand for Santander UK’s Fosse 2012-1 RMBS allowed leads to tighten pricing in three out of nine tranches. The UK originator has also added a pre-placed Yen tranche, bringing the number of currencies on offer to five.
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Long-term ratings of U.S. residential mortgage-backed securities are likely to be little affected by the settlement between states attorneys general and mortgage lenders that includes reducing principal balances for troubled borrowers, according to Fitch Ratings.
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IKB Deutsche Industriebank has filed a lawsuit against Bank of America over losses it claims from investments in mortgage-backed securities it bought.
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The Federal Reserve, Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp., have finalized their guidance related to stress-testing practices at banks with total consolidated assets of more than $10 billion.
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U.S. District Judge Denise Cole of Manhattan has proposed a trial schedule for 17 lawsuits brought by the U.S. Federal Housing Finance Agency against banks over mortgage-backed securities, with the first case—with UBS as defendant—to be tried in 2013 and the rest to continue in 2014.
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Santander U.K. is set to price its Fosse 2012-1 prime U.K. residential mortgage-backed trade later this week.
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Moody’s Investors Service has downgraded EUR2.6 billion ($3.34 billion) in Irish residential mortgage-backed securities and has put on review for downgrade additional RMBS that could affect EUR17.3 billion ($22.25 billion) in debt.
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Santander UK has decided to offer notes across nine tranches and in four different currencies and maturities for its Fosse 2012-1 RMBS. The transaction, which the leads hope to price on Wednesday, includes the first offering of double-A notes from a UK master trust since 2007.
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The Federal Reserve Bank of New York has announced it will be offloading additional collateral from two legacy collateralized debt obligations held in its Maiden Lane III portfolio, with auctions scheduled for May 17 and May 22.