Latest news
Latest news
Domivest also priced its Dutch BTL RMBS
The £500m trade is the joint largest non-bank credit card ABS, matched by CoT’s previous deal
Lendco also added a UK BTL RMBS to the pipeline
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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.
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Covered bonds have edged ahead of residential mortgage-backed securities for U.K. banks looking for secured funding this year, although RMBS is still being tipped for a re-emergence, according to London-based securitization analysts.
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More than $5 billion in consumer asset-backed securities and $2.5 billion in commercial mortgage-backed securities hit the primary U.S. market this week, with investors at the ready to take down the sudden influx of paper.
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Natixis is rolling out a EUR 5.9 billion ($8.1 billion) mortgage-backed securitization of residential home loans originated in France by lender BPCE Home Loans.