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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SNS Bank announced a Eu2bn residential mortgage securitisation this week, but will keep it on its books as repo collateral.
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The European primary ABS market remained firmly shut this week.
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Standard & Poor’s this week reported that increasing repossessions in the UK housing market did not yet pose a risk to RMBS ratings, but that they were likely to continue increasing.
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Absa’s R3.225bn ($439.2m) Home Obligors Mortgage Enhanced Securities Series 1 Pty Ltd (Homes 1) RMBS deal, its first home loan securitisation, was 1.23 times oversubscribed at pricing on Wednesday.
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Absa had the first roadshow of its Home Obligors Mortgage Enhanced Securities Series 1 Pty Ltd (Homes 1) RMBS last week.
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A run of deals has helped keep Mexico’s residential mortgage backed securitisation (RMBS) market on target for growth. Three public deals have been priced since last Thursday (July 19).
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Spreads in the European ABS market were driven out yet further this week, amid signs of distressed selling and widespread attempts to short the market with credit default swaps.
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The last of the summer’s Spanish mortgage securitisations were priced this week, allowing issuers, traders and investors to breathe a sigh of relief and pray that conditions improve by the time supply resumes later in the year.
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Price guidance for two large and conventionally appealing prime UK RMBS issues in the market reflects the spread movement. Even so, investors are reporting slow bookbuilding as accounts hold off on placing orders for as long as possible.