Room enough for two ‘Albas’ in this week’s securitization mart

By Graham Bippart
16 Apr 2015

Two completely different securitizations with confusingly similar names are set to price this week, including a UK non-conforming residential mortgage-backed securities deal from Credit Suisse’s Aggregator of Loans Back by Assets (ALBA) shelf and an Italian lease called Alba 7, being sold by Banca IMI and Société Générale.

ALBA 2015-1 is backed by a portfolio of mostly interest-only first lien mortgages originated at the peak of the 2006-2007 UK real estate market. The loans were most recently part of a portfolio backing ALBA 2013-1, which was called in January. 

The original deal was sponsored by Pamplona ...

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