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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Redwood Trust is preparing to tap the residential mortgage-backed securities market with the first U.S. private-label RMBS of the year: Sequoia Mortgage Trust 2012-1.
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Royal Bank of Scotland launched a credit card ABS on Wednesday to price Friday, hitting the market ahead of Santander UK’s hotly anticipated market opening RMBS, Holmes 2012-1. Dutch issuers are also close behind, with Rabobank subsidiary Obvion launching an extensive roadshow.
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The success rate of mortgage servicers to stem investor losses on seriously delinquent loans in residential mortgage-backed securities varies greatly from firm to firm, according to Standard & Poor’s.
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Santander UK is injecting another £4.5bn of collateral into the Holmes master trust to coincide with the new issue, Holmes 2012-1. The new collateral will give the trust the headroom to issue a vast deal, bigger even than Fosse 2011-1.
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Congress’s late-year move to levy a 10 basis point fee for 10 years on government agency mortgage borrowers to pay for an extension to the payroll tax cut through the end of February is likely to increase mortgage rates and lower refinancing demand on lower-coupon mortgages, according to analysts at JPMorgan.
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Countrywide Financial has filed a motion with a federal district court in Texas to put on hold a mortgage-backed securities lawsuit filed by the Federal Deposit Insurance Corp. as receiver for the defunct Houston-based Franklin Bank.
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Clydesdale Bank could relaunch its postponed U.K. residential mortgage-backed issue from its Lanark Master Trust in early February following several structural changes to the transaction.
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Preliminary terms for Santander UK’s Holmes 2012-1 RMBS, the first European ABS of the year, include a $500m max 2a7 tranche, as well as three and five year scheduled amortisation tranches.
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Santander U.K. has a new issue of residential mortgage-backed securities from its Holmes program in the works, a deal set to be the first U.K. RMBS of the year.