Latest news
Latest news
Timeline of collapse that rocked the UK bridging loan market
As well as deals backed by new loans, it will call and refinance 2023 deals
Meanwhile, BNP Paribas hires in structured finance
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Ginnie Mae residential mortgage-backed securities hit historic levels Wednesday, pricing richer in a full day of trading as the market digested moves by the Federal Reserve to keep interest rates at record lows.
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Fears that a jump in the refinancing index might spark a selloff of government-backed mortgage bonds have been quelled by Federal Reserve Chairman Ben Bernanke’s speech yesterday, analysts told SI.
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Fitch Ratings has revised its mortgage-loss and cash-flow criteria for several European countries, including Belgium, France, Germany, Greece, Ireland, Italy, Portugal, Spain and the U.K.
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Fitch Ratings said its updated rating methodology for assessing credit risk of loans in Portuguese residential mortgage-backed securities could result in some negative ratings actions, particularly in lower-rating categories.
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Redwood Trust is shopping a new residential mortgage-backed securitization of prime jumbo loans, pegged at $300-400 million, larger than the trust’s two previous deals.
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Northern Rock’s U.K. residential mortgage-backed master trust Granite, the market bellwether for European securitization, saw BBB prices drop Tuesday, as secondary markets continue to be light on liquidity.
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The $4.5 trillion agency residential mortgage-backed securities market has remained unfazed so far by Standard & Poor’s move to downgrade the government-sponsored enterprises one notch this morning.
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Senior tranches of European residential mortgage-backed securities and consumer- loan asset-backed securities in Europe are being viewed as a “safe haven” from the fallout of the historic downgrade of the U.S. sovereign by Standard & Poor’s, according to London-based market participants. -
The European asset-backed securities market is seeing a spike in retained deals, with investors expecting more to tap the European Central Bank’s liquidity program in the coming weeks as market uncertainty persists.
