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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Secondary market spreads for European ABS continued their rally for most of the week, but slipped on Thursday after the Bank of England and European Central Bank held their policy rates.
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MORGAN STANLEY and KIT Finance Investment Bank have priced a R6bn ($256m) securitisation of Russian mortgages for KIT.
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The Bank of England today (Monday) unveiled a new £50bn liquidity facility designed to clear the overhang of mortgages created by and perpetuating the credit crunch.
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BEAR Stearns’s UK non-conforming lender Rooftop Mortgages will cease new origination today, joining an ever increasing list of lenders to succumb to the credit crunch.
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A rare offered European RMBS emerged this week when Royal Bank of Scotland priced a Eu120m securitisation of Dutch mortgages for GMAC.
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Rating agencies warned this week that the Spanish housing market faces a serious downturn and that some RMBS may be downgraded.
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Danske Bank has closed Prime Bricks 2008-1 GmbH, a transaction for Danske Bank to transfer risk on a Eu1.5bn portfolio of Danish mortgage loans originated by Realkredit Danmark, a subsidiary of Danske.
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Speculation was rampant this week that central banks around the world were about to step in to prop up mortgage backed securities markets.
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Fitch Ratings said yesterday (Wednesday) that the majority of UK non-conforming RMBS tranches could withstand a 25% decline in house prices over the next year.