Latest news
Latest news
◆ EU regs plan sparks debate over treatment of secured borrowing ◆ Blistering corporate and FIG issuance but why are premiums rising in one market but not the other? ◆ UK Renters' Rights Act to impact UK buy-to-let RMBS market
New law expected to accelerate the dominance of professional landlords
Together added to the sterling market with a small ticket CRE CMBS
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Wells Fargo has imposed a 105% limit on the loan-to-value ratio it will accept from third-party lenders on loans through the government’s latest version of the Home Affordable Refinance Program.
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The U.K.’s Financial Policy Committee, its new systemic risk regulator, is seeking the authority to change bank capital requirements according to economic cycles, namely to raise requirements on financial institutions against unexpected losses in a healthy economy and then lower them in a downturn.
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New tougher capital requirements on Spanish banks may be harsh but are also necessary, according to Fitch Ratings.
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The Spanish government’s new voluntary code of practice for mortgage lenders, introduced earlier this month, may protect borrowers in danger of falling into arrears but could have a negative impact on the credit quality of residential mortgage-backed securities as it could lead to lower collateral yields, increased repossessions and higher losses on mortgage loans, according to Standard & Poor’s.
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The core sectors of the European ABS market, such as prime RMBS and autos, continue to spark investor interest in both the primary and secondary market.
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Fitch Ratings has downgraded 354 distressed bonds in 156 U.S. residential mortgage-backed securities transactions from Csf and CCsf to Dsf, suggesting greater possibility of default.
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A BWIC (bids wanted in competition) built mostly of bonds from Bradford & Bingley’s U.K. buy-to-let and non-conforming residential mortgage-backed program Aire Valley Master Trust surfaced on Thursday.
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Players across the securitization sector say a re-emergence of monoline wrappers in the new-issue market is still far off, dismissing speculation that Goldman Sachs might be readying a monoline insurance business plan.
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Prices of Freddie Mac securities have improved relative to their Fannie Mae counterparts as the U.S. Department of Treasury today announced it had finished selling down its mortgage-backed securities portfolio with a $25 billion profit.