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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Santander UK is preparing the fourth securitisation of the year from its Fosse UK mortgage master trust.
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Bondholders in a UK non-conforming RMBS have lost their court battle to force an event of default. In a ruling with implications for many other Lehman Brothers-sponsored deals, the High Court in London found last Friday that Eurosail 2007-3BL was not technically insolvent.
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A key ruling is due on Friday at the High Court in London, which will set an important precedent for the ABS market.
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Santander UK has found an additional £500m of interest for its private placement of Fosse 2010-3, a master trust RMBS announced at the end of June.
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Investec’s UK mortgage lending subsidiary Kensington Mortgage Co has confirmed that it aims to return to the RMBS market later this year. The planned securitisation, Kensington’s first public deal since March 2007 and the first under Investec’s ownership, will be backed by seasoned and newly originated prime and buy to let mortgages. The firm restarted new lending last November, offering products with a maximum loan to value ratio of 75% and without a non-conforming range. It hopes to come to market with a deal up to £250m.
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Dutch mortgage lender Aegon Levensverzekering has privately placed a Eu1.017bn RMBS, Saecure 7. JPMorgan CIO committed to buy Eu700m of the 4.31 year average life senior tranche at 135bp over Euribor. Aegon has retained the subordinated tranches, which contribute to total credit enhancement of 8.5%.
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Santander UK is privately placing a £3bn issue from its Fosse mortgage master trust, marking the third time it has tapped the RMBS market since March.
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Santander UK is privately placing a £3bn issue from its Fosse mortgage master trust, marking the third time it has tapped the RMBS market since March.
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SNS Bank has privately placed the restructured triple-A notes from Hermes XIV, a Eu2.9bn Dutch RMBS it originally issued and retained in 2008.