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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New issuance volumes of securitization in Europe this year have reached EUR304 billion ($397.9 billion) in the past week as the market heads into the home stretch of 2011, though roughly two-thirds of paper continues to be retained.
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Standard & Poor’s placed 764 tranches in 119 transactions of UK RMBS on CreditWatch Negative on Monday, providing what one ABS trader called “another Christmas present to the market”.
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Standout deals of the year include trades marking the high points of the pre-summer rally, alongside deals that succeeded in more challenging circumstances, said reflective ABS bankers looking back over 2011.
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The underperformance of U.S. residential mortgage back securities and U.S. structured finance collateralized debt obligations are driving the losses in global structured finance transactions, according to Fitch Ratings.
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Market players are reading into Ally Financial’s announcement it would no longer buy home loans in Massachusetts and wondering if there’s a next move.
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The outlook for asset-backed securities and residential mortgage-backed securities in weaker European countries—such as Greece, Ireland and Italy--in 2012 is negative while that for deals in the U.K., the Netherlands, Germany and France is stable, according to Moody’s Investors Service.
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Increased loan level data disclosure requirements for securitizations are a “red herring” and will not in themselves tempt investors back to the market, according to speakers at an industry conference in London.
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The level of transparency in certain U.K. securitization trades has been important in attracting U.S. investors to the asset class this year, but too much data could risk overwhelming potential new participants, panelists at Terrapinn’s Securitization World 2011 conference in London said Tuesday.
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The cost of foreign exchange swaps for certain U.K. firms looking to issue securitizations into the U.S. and Europe beyond the core U.K. investor base remain “prohibitively” expensive, according to Stephen Bowcott, head of securitization at Paragon Group.