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
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BNP Paribas has structured two French RMBS deals totalling €1.61bn, which will be retained — suggesting the bank is building up its reserves of top-rated collateral. The French bank retained few ABS or covered bonds between 2007 and this year, with only one senior deal kept on the books, Phedina 2010.
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Nationwide pulled off the first fully public ABS deal since the re-eruption of the sovereign crisis, bagging $3.58bn equivalent from its Silverstone 2011-1 issue. The deal could spell an end to the spate of private placements and club deals that have characterised the market since July, but questions remain over the depth of demand in sterling and euros, after Nationwide placed 90% of the deal in dollars.
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DBRS is seeking comment on its proposed loss model and rating methodology for U.S. residential mortgage-backed securities.
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The Conference of State Bank Supervisors, American Association of Mortgage Regulators and National Association of Consumer Credit Administrators have provided mortgage examiners with guidelines for determining whether non-banks licensed by state are complying with the Federal Reserve’s rules for loan-origination compensation.
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The U.S Financial Stability Oversight Council has proposed a threshold for determining if a non-bank is systemically important and requires additional oversight.
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Bill Gross has increased exposure to mortgage-backed securities for his Pimco Total Return Bond Fund to 38% in September, up from 32% the preceding month.
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Goldman Sachs and Morgan Stanley may shed their bank-holding status to avoid the costs of complying with the proposed Volcker rule, according to David Hilder, an analyst at Susquehanna Financial Group.
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The bailout of stricken European bank Dexia by the French and Belgian governments is not expected to lead to a fire sale of its securitization holdings, according to London-based analysts at the Royal Bank of Scotland.
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Nationwide Building Society priced its near $3 billion Silverstone Master Issuer 2011-1, a U.K. residential mortgage-backed securitization that included U.S. dollar-denominated tranches pitched to stateside accounts.