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
More articles
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Northern Rock is shopping its first public residential mortgage-backed deal since the financial crisis. The issue is being hailed as a major boost to Europe’s securitization sector, but some London-based investors reckon it could prove tricky to tempt some buyers, noting bonds in Northern Rock’s Granite RMBS may yet offer better yields.
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U.S. regulators are expected to miss the April 18 target date, set under the Dodd-Frank Wall Street Reform Act, for overhauls to the lending market that includes risk retention rules for mortgages and securitizations.
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Citigroup is said to be preparing an issue of residential mortgage-backed securities denominated in Australian dollars.
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Deutsche Bank, JP Morgan and Royal Bank of Scotland will sell Northern Rock’s first public post-crisis securitisation, a £1.5bn prime RMBS. The deal will be issued through Gosforth Funding 2011-1, which will be a standalone static pool deal.
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The U.S. Department of the Treasury plans to start selling off its $142 billion portfolio of agency residential mortgage-backed securities, with the first batch of $10 billion expected this month.
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Smaller players in the U.K. and European mortgage sector, such as retail banks and building societies, are being tipped to contribute to a healthy flow of residential mortgage-backed securities issuance this year.
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The outlook for South African asset-backed securities and residential mortgage-backed securities for 2011 is negative, according to Fitch Ratings.
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Lloyds Banking Group is aiming to tap a pool of investors that will not buy master trusts with its new static pool UK RMBS, Headingley 2011-1. However it will continue to use its other RMBS funding avenues — the Permanent and Arkle master trusts.
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Lead managers JP Morgan and Royal Bank of Scotland managed to place Skipton Building Society’s Darrowby No. 1 UK RMBS this week despite volatile conditions as a result of the Japanese earthquake.