Bull market spurs boom in private label mortgage bonds

US mortgage lenders are resurrecting a private label RMBS market that has lain dormant for several years since the financial crisis, as investors chasing yield show interest in deals with riskier credit and looser underwriting. David Bell reports.

  • By David Bell
  • 17 May 2018

A new $329m prime RMBS deal backed solely by investor properties from Flagstar Bank this week was the latest in a spate of private label deals to have emerged in recent months.

The deal was the first of its kind, according to Kroll Bond Rating Agency. JP Morgan and ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 15,256 32 17.31
2 Bank of America Merrill Lynch (BAML) 9,637 29 10.93
3 Citi 8,264 22 9.37
4 Lloyds Bank 7,329 24 8.31
5 JP Morgan 6,580 10 7.46

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 130,010.09 379 11.12%
2 Bank of America Merrill Lynch 104,113.90 304 8.90%
3 JPMorgan 102,778.33 300 8.79%
4 Wells Fargo Securities 93,728.92 276 8.01%
5 Credit Suisse 76,904.09 209 6.58%