Towd Point to bring second rated RPL RMBS since crisis
Towd Point Mortgage Trust is marketing the second rated re-performing loan (RPL) RMBS transaction since the financial crisis, as yields have declined in the sector and new issuers have sought ratings to sweeten the deal for investors.
The $395.75m issuance was rated by Moody’s and Fitch. Both agencies assigned preliminary triple-A ratings to the top tranche of notes, but Moody’s was not asked to rate any of the subordinate tranches.“Most of these deals from 2010 through 2014 did not have ratings,” a structured products head ...
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