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
More articles
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Servicers of residential mortgage-backed securities will be on the hook for more costs associated with troubled legacy deals after the city council of Springfield, Mass., last week held that securitization trusts are liable for the upkeep of homes in foreclosure.
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Industry officials are raising their objection to section 939F of the Dodd-Frank Act, a controversial provision sponsored by Senator Al Franken (D-Minn.), which proposed a third-party board to parcel out new deals among the rating agencies, as well as a two-year study to investigate the ratings process.
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Talk of a new and aggressive home refinancing plan coming from the Obama administration has led to volatility in the agency residential mortgage-backed securities market.
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Citadel Securities’ move to shutter its fixed-income sales and trading operations will put in play another band of market pros just as larger firms are laying off.
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Fears are growing that the return of RMBS in the autumn could be hampered by wide senior spreads. The iTraxx senior financials index touched all-time wides this week, and sat at 245bp on Thursday, although spreads in senior notes of core RMBS moved very little.
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Rising delinquency rates on home loans in the second quarter could have negative impact on the collateral of residential mortgage-backed securities, according to Standard & Poor’s.
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American Home Mortgage Servicing is in the market with a $250 million residential servicing advance deal from the Royal Bank of Scotland and Deutsche Bank.
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Bjoern Bauermeister has rejoined BNP Paribas as an asset-backed and mortgage-backed securities trader in London a year after leaving the firm.
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Citadel Securities is said to be completely shutting down its fixed-income sales and trading operations by the end of the week, market sources said.