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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Some investors stayed away from the newest residential mortgage-backed securitization from Redwood Trust, the $368 million Sequoia Mortgage Trust 2011-2, because it carried credit ratings from just one agency, Fitch Ratings.
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The expected news of U.S. Federal Reserve’s so-called Operation Twist has strategists at the Royal Bank of Scotland urging clients to buy longer-dated agency pass-throughs and collateralized mortgage obligations, a move Jeana Curro’s team said could be smart even if the Fed’s third round of economic stimulus fails to materialize.
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The Independent Community Bankers of America has called for a moratorium on mergers and acquisitions involving financial institutions $100 billion or more in assets.
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The Obama administration again is considering imposing a fee on the nation’s largest banks to pay for losses from the government’s Troubled Asset Relief Program.
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Investors in residential mortgage-backed securities will not feel the impact of rising foreclosures until 2013, predicts DBRS.
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Redwood Trust is said to have raised the interest rate on the senior class of its $375 million residential mortgage-backed securities deal from 3.6% to 3.9%.
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Senior bondholders in the legacy Stichting Holland Homes Oranje I and II Dutch residential mortgage-backed securitization are said to have green-lighted plans to restructure the transactions in order to stave off a ratings downgrade.
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Secondary trading of asset-backed securities began the week lightly, with only Northern Rock’s residential mortgage-backed securities vehicle Granite showing any notable activity.
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The Federal Housing Finance Agency’s Distressed Asset Recovery Program, in which the regulator would sell off Fannie Mae and Freddie Mac real estate owned houses to investors on the condition they turn them into rental properties, would help U.S. home prices stabilize and could draw big money, according to Dale Westhoff, global head of securitized products research at Credit Suisse.