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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Redwood Trust’s latest residential mortgage-backed securities transaction is expected to emerge soon, with documents expected to be filed with the Securities and Exchange Commission this week, according to officials with knowledge of the deal.
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Santander U.K. is launching a new issue from its U.K. residential mortgage-backed securities trust Holmes, testing the reboot of Europe’s public securitization market after months of scant activity. -
An improved version of the Securities and Exchange Commission’s existing 17g-5 reform would be better for the securitization industry than section 939F of the Dodd-Frank Act—the so-called Franken Amendment, the American Securitization Forum said in comments it shipped off today.
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Performance of loans of some Mexican residential mortgage-backed securities have seen stabilization while others continue to show signs of deterioration, according to Fitch Ratings.
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Ring-fenced U.K. retail banks may be barred from originating, trading, lending and market-making in asset-backed securities on behalf of clients, under new recommendations set out Monday by the U.K. Independent Commission on Banking.
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A loan securitized in the EUR1.5 billion ($2.05 billion) commercial mortgage-backed securities deal Windermere X has come out of special servicing after the borrower E-Shelter GmbH & Co. cured outstanding payments that sparked an event of default in May.
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Demand for AA and A paper in Northern Rock’s U.K. Granite residential mortgage-backed securitization has picked up in the past week, with dealers looking to investors to take on longer-dated positions as confidence grows.
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Banks struggling for senior unsecured funding should be turning to ABS, investors argued this week. "ABS has never been so far inside senior," said a London-based fund manager. "I’m surprised that banks aren’t printing furiously in short end ABS, trying to grab funding while they can. ABS people have been through a crisis before. They’re not just going to sell out at the first hint of trouble."
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Paragon’s expected return to securitisation this quarter will need innovative structuring to address extension risk, market participants judge. While collateral in the UK buy-to-let player’s legacy deals has performed well, with best-in-class delinquencies and repossessions (ahead of some UK prime), Paragon could not call the deals during the crisis.
