Latest news
Latest news
The £500m trade is the joint largest non-bank credit card ABS, matched by CoT’s previous deal
Lendco also added a UK BTL RMBS to the pipeline
This is the second RMBS deal from the PIF-backed issuer
More articles
More articles
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A proposed law that would allow Irish borrowers unable to meet their loan obligations to enter into personal insolvency will result in up to one-quarter of all Irish mortgage debt to be written off and have a negative impact on Irish residential mortgage-backed securities, according to Moody’s Investors Service.
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Prepayments on mortgage-backed securities from Fannie Mae and Freddie Mac slowed in December and January, according to Keefe, Bruyette & Woods.
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Fitch Ratings predicts that issuance of private-label residential mortgage-backed securities this year will be slim, despite renewed investor interest in legacy subprime debt.
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Dutch residential mortgage-backed securities withstood ongoing economic difficulties in the fourth quarter, according to Standard & Poor’s.
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The Federal Housing Administration is planning on tightening standards for approving lenders, a move that could drive up the prepayment risks for investors in securities back by Ginnie Mae loans, according to Barclays Capital analysts.
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The Federal Reserve is said to be preparing for a second offer of an estimated $6 billion residential mortgage-backed securities that it acquired as part of a bailout of American International Group.
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Wachovia Capital Markets could escape a lawsuit filed by the National Credit Union Administration over losses it claims came from residential mortgage-backed securities sold to its members, if the NCUA fails to convince the court that the action should not be dismissed.
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The state of California has filed suit against Northern Trust for investing in mortgage-backed securities that resulted in a loss of $95 million to the Los Angeles Employees Retirement System pension fund.
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The recent tender offers seen in Spanish and Portuguese residential mortgage-backed securities are not expected to spark off a major rally in peripheral market securitizations, according to London-based market officials.