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Funding Circle also placed the mezz notes for its SME loan transaction
Santander adds to euro pipeline with German consumer ABS
◆ 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
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The Co-operative Bank printed £725m equivalent of triple-A rated prime RMBS on Friday, having launched guidance just after the Greek austerity measures were passed.
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Market conditions have forced the Federal Reserve Bank of New York to halt its auction of mortgage-backed securities held by its Maiden Lane II vehicle.
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Fitch Ratings says it has updated three criteria reports for new-issue U.S. residential mortgage-backed securities.
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The market is still sifting through what Bank of America-Merrill Lynch’s announced settlement with investors means for the market, but senior positions on residential mortgage securitizations got an immediate bounce, climbing four points, according to traders and portfolio managers.
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The Office of the Comptroller of the Currency is forcing banks to conduct a self review of mortgage foreclosure and servicing standards to ensure bank practices line up with the government’s guidelines.
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U.K. mortgage lender West Bromwich Building Society has mandated Barclays Capital and Citigroup to joint lead-manage a new prime residential mortgage-backed securitization called Kenrick 1.
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Leads Barclays Capital, JP Morgan and Morgan Stanley released guidance on Co-op Bank’s new UK RMBS Silk Road No. 2 on Wednesday at 150bp-155bp over Euribor for the euro tranche and 155bp-160bp over Libor for the sterling tranche. This is well outside secondary levels for UK prime deals from Lloyds or Santander UK, which are still quoted with a 130bp handle for comparable three year maturities.
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Bank of America will pay $8.5bn to end the putback dispute that it is involved in with a group of 22 institutional investors including BlackRock, Pimco, MetLife and the Federal Reserve of New York. But the bank has also set aside a further $5.5bn to deal with representations and warranties liabilities for other exposures, and another $6.4bn for further mortgage write-downs.
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The ‘A1’ tranche on Achmea’s DMPL IX RMBS showed just how insulated Dutch prime RMBS has been from Greek fears, as leads Deutsche Bank and Natixis priced an increased size of Eu253.9m 5bp inside the tight end of the 95bp-100bp guidance.