Latest news
Latest news
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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About $1 billion of credit facilitates could be extended to new real estate investment trusts this year to facilitate the warehousing of mortgages in the lead up to fresh private-label residential mortgage securitizations, according to officials.
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Yorkshire Building Society, a U.K.-based thrift, is set to launch its first foray into the residential mortgage-backed market with a new deal called Brass No. 1.
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Credit Suisse is shopping Alba 2011-RP1, a rare post-crisis non-conforming U.K. residential mortgage-backed deal.
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Yorkshire Building Society has launched its debut RMBS, Brass No. 1, into a booming ABS market. The lender has mandated Barclays Capital and JP Morgan for an all sterling deal, following a roadshow that will start next week in London.
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Lead managers Barclays Capital, JP Morgan, Morgan Stanley and Santander GBM gathered orders of £5.5bn equivalent for Santander UK’s Fosse 2011-1 this week. With 80 investors in the book placing 130 orders, Fosse is arguably the most broadly distributed European ABS since the crisis began.
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Credit Suisse is hoping to price the first non-conforming RMBS deal of the year and only the second transaction of its type since the crisis began. ALBA 2011-RP1 pools mortgages originated by GMAC, Mortgages Plc, Edeus, Wave Lending and Platform.
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NIBC Bank has picked Deutsche and Morgan Stanley as leads for its Dutch MBS XVI RMBS issue, which will be on the road from next week.
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A raft of landmark transactions, debut issues and exotic assets is underscoring the strength of the European asset-backed market’s long delayed revival. The first post-crisis CMBS, the second non-conforming RMBS, a Dutch RMBS, a revived Spanish auto deal — Driver España — and a first from Yorkshire Building Society are all due to break new ground shortly following the largest public post-crisis UK RMBS and VW’s Driver Nine.
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The European Securities and Markets Authority’s new rating agency endorsement regime—a series of stringency tests to determine if credit ratings made outside the E.U. can be permitted into the region—will give some leeway to ratings that fall short of the E.U. standards. The move comes after industry professionals voiced fears that a wholesale block on non-E.U. ratings would trigger disruption to securitization markets.