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
More articles
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KBC Bank has amended deal documents in Irish RMBS deals Phoenix Funding 2 and 3, to avoid triggering counterparty replacement provisions — exactly what Fitch warned issuers to avoid at the beginning of the year.
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Three new ABS mandates hit the market in the second half of the week — auto deals from Socram Banque and Société Générale, and a new Arkle RMBS from Lloyds Banking Group. A constructive market backdrop, along with a blowout deal from Obvion’s Storm (see separate stories) flushed issuers out.
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The Federal Reserve’s announcement that it plans to keep interest rates low at least until late 2014 is expected to make it harder for big banks to increase profits and raise capital.
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Ben Bernanke, chairman of the Federal Reserve, said the central bank is not planning to sell any of $847.4 billion in agency mortgage-backed securities or $101.5 billion of agency debt before 2015.
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Changes to the Home Affordable Refinance Program could be around the corner, even if plans for a large-scale refinancing President Barack Obama laid out in his State of the Union speech are unlikely to clear Congress, market players say.
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Performance of non-conforming and prime residential-mortgage backed securities remained stable in the three months ended in November, according to Moody’s Investors Service.
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Losses on residential mortgage-backed securities may total an additional $300 billion, according to R&R Consulting.
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President Barack Obama in his State of the Union message Tuesday night asked Congress to approve a mortgage-refinance plan that would allow borrowers current on their loan payments to secure a new mortgage at record-low rates.
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Issuance of residential mortgage-backed securities linked to multifamily dwellings by Fannie Mae surged 45% in 2011 to $23.8 billion.