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
More articles
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Lloyds Banking Group is tendering for bonds in two legacy U.K. residential mortgage transactions.
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High demand for Nationwide Building Society’s recently priced U.K. residential mortgage-backed trade Silverstone 2012-1 has caused spreads on its bonds to tighten as much as 15 basis points on the secondary market, traders in London said Monday morning.
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Credit Suisse’s pricing this week of its Aggregator of Loans Backed by Assets (ALBA) 2012-1, a rare U.K. non-conforming residential mortgage securitization, may hint at an added depth to the investor base beyond the core prime securitized assets in the region, London-based officials say.
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Assured Guaranty has filed a lawsuit against the EMC Mortgage and Bear Stearns units of JPMorgan Chase for alleged misrepresentations in connection with the sale of mortgage-backed securities in 2005, three years before the investment bank acquired the two firms.
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Credit Suisse has closed the first UK non-conforming RMBS of the year, ALBA 2012-1, at a higher discount margin than last year’s ALBA issue. Meanwhile, a rare Dutch non-conforming RMBS was priced tighter than the new ALBA offering in a private placement.
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Recent increases in yields on mortgage-backed securities are fueling fears that banks will accelerate sales of the MBS, which they acquire as a hedge when interest rates drop and refinancing activity climbs.
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Nationwide Building Society priced its new issue of U.K. prime residential mortgage-backed securities, Silverstone Master Issuer 2012-1, on Thursday afternoon.
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Performance of loans in Irish residential mortgage-backed securities deteriorated rapidly in the three-month period ending Jan. 31, with 90-day-plus delinquencies rising sharply to 11.98% from 10.14% at the end of October, according to Moody’s Investors Service.
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Bond prices in Northern Rock’s Granite U.K. residential mortgage securitization—considered the European market barometer—have risen slightly since late last month, but overall prices have remained largely flat as secondary activity has stayed muted.