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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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U.K. mortgage lender Yorkshire Building Society is aiming to maintain a “sufficient presence” in the residential mortgage securitization sector following the recent pricing of the firm’s first-ever RMBS deal, Brass No. 1, according to Chris Parrish, group treasurer at Yorkshire.
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‘A1’ notes in NIBC Bank’s Dutch MBS are 1.9 times covered, while the ‘A2’s are moving slower at 0.9 times done.
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Royal Bank of Scotland launched a tender offer for notes in Celtic Residential Mortgage Securities (CRSM) 9-12, a series of Irish RMBS originated by Ulster Bank, an RBS subsidiary. Some market participants hailed it as a valuable exit opportunity, while others argued that buy and hold investors would punish RBS in the long term.
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Alba 2011-1, a Credit Suisse-sponsored UK non-conforming deal, is on course to be priced on Friday following encouraging momentum, despite investors lining up to criticise the collateral backing the deal. One fund manager said that the mortgages were comparable to US-based "scratch and dent" assets.
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Freddie Mac has issued its first, multi-loan single borrower mortgage securitization, a $672.342 million deal called FREMF 2011-KAIV.
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Delinquencies of 30 days or more of mortgages in Australian prime residential mortgage-backed securities rose 42 basis points to a record 1.79% in the first quarter, according to Fitch Ratings.
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Italian lender Banca Popolare di Puglia e Basilicata is preparing to come to market with Media Finance 4, a previously retained €423 million ($691.6 million) residential mortgage-backed securitization.
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UBS has tapped CB Richard Ellis to search for 750,000 square feet of office space in Manhattan, a move officials at the bank said could include relocating the bank’s securitization, larger fixed-income platform and equities teams out of its existing base in Stamford, Conn.
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Lead managers on the latest Dutch RMBS and the new UK non-conforming deals have released guidance, while Yorkshire Building Society’s Brass No 1 is reportedly 1.8 times covered.