S&P highlights R&W framework as JPM releases whispers on jumbo RMBS

By Matthew Scully
23 Jun 2014

JP Morgan released price whispers for its latest jumbo RMBS deal on Monday, but investors kept quiet on the subject of representations and warranties, an issue that caused debate the last time JP Morgan brought a jumbo deal. Standard & Poor's highlighted the topic in a pre-sale report for the new transaction.

The JP Morgan transaction was joined in the ABS pipeline by a sale of jumbo loans by Citigroup, while the market also digested a debut jumbo loan sale from WinWater Home Mortgage last week. Year-to-date supply in non-agency RMBS has barely scratched $2bn.

“Even if it’s a small part of ...

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