Latest news
Latest news
This is the first UK BTL RMBS since the Renters’ Rights Act came into effect
Funding Circle also placed the mezz notes for its SME loan transaction
Santander adds to euro pipeline with German consumer ABS
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Lloyds released guidance on its Headingley static pool RMBS on Wednesday, with pricing finally expected during Australian hours on Friday — a challenging aspect of being the first UK RMBS to place an Australian dollar tranche.
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JP Morgan is once again buying primary market ABS in size, taking Eu1bn of Aegon’s new Dutch prime deal Saecure 10.
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MKP Capital, a distressed-debt fund manager, is said to have sold off roughly two-thirds of its portfolio of asset-backed securities last week.
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The Commercial Real Estate Council has begun lobbying for an exemption to a rule under the Dodd-Frank Act that would require issuers of asset-backed securities to hold 5% of the issue.
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Lloyds Banking Group is said to be prepping a swift follow-up to its standalone U.K. residential mortgage-backed trade Headingley 2011-1, with a new issuance from its U.K. RMBS master trust, Permanent.
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Trading activity in the European asset-backed securities secondary markets has remained quiet over the week, though some market professionals forecast a widening of the bid-ask spread on European paper.
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Longer liquidation times lines and falling home prices have led to a worsening of loss severities of subprime residential mortgage-backed securities to 76%, according to Fitch Ratings.
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There is growing concern that the quality of the commercial mortgage-backed securities coming to the market is declining amid the industry’s revival.
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Price guidance on Lloyds Banking Group’s Headingley 2011-1 residential mortgage-backed deal emerged this afternoon.