Towd Point to bring second rated RPL RMBS since crisis

By Ryan Bolger
12 Jan 2015

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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