Latest news
Latest news
ABS market not the cheapest cost of financing for issuer of first ever trade in the asset class
Revival of high LTV mortgage lending is creating an opportunity for more SRT and deconsolidation transactions
Trade follows the end of a joint venture to originate loans
More articles
More articles
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Natixis promotes DCM bankers — Powell quits IFAD job — NatWest Markets makes Peberdy, Donaldson and Manwaring's positions permanent -
The European Parliament's Committee on Economic and Monetary Affairs (ECON) has voted through regulation to harmonise the secondary market for NPLs across Europe, pushing through a key stage of its Action Plan aimed at rebuilding the European economy post-pandemic.
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The US solar energy market started off the New Year with a bang, fuelled by the news that solar investment tax credits will be extended for another five years. The extension will help growth in the industry and increase investor comfort in funding renewables.
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A blue Senate is posing a new threat to the ABS market, as regulators and lawmakers are set to turn their focus to consumer protection. Sherrod Brown, a critic of big banks and a loud consumer rights advocate, is now favourite to chair the Senate Committee on Banking, Housing and Urban Affairs, which could lead to a stream of headline risks for lenders.
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STS third-party verifier Prime Collateralised Securities (PCS) has hired Harry Noutsos as a managing director in market outreach.
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Online lenders have sought ways to transform themselves into banks to gain regulatory clarity and forge long term customer relationships. Regardless of the status change, the securitization market will remain a vital funding source to the challenger banks, sources say.
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Auto ABS issuers are opening up the 2021 pipeline with four deals of various size and quality, ranging from a subprime auto transaction from Arivo Acceptance to a prime loan deal from Santander. Subprime auto credit is expected to deteriorate in the next few months as loan extension programmes continue to expire.
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The European securitization market needs to whittle down its remaining ‘tough Libor’ legacy contracts without relying on help from the UK regulators, said the Association for Financial Markets in Europe (Afme) on Wednesday.
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LendingClub has received approval to acquire Radius Bank from the Office of the Comptroller of the Currency, completing one of the last few steps left before it can become a national bank. Under the incoming Joe Biden-led US administration, more fintechs will look to gain bank status to avoid regulatory headache and hefty costs attached to being a non-bank lender.
