Latest news
Latest news
Third deconsolidation RMBS from a UK challenger bank since November
Parliament’s draft amendments are kinder to the market than Commission's
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The Federal Housing Administration (FHA) reversed a July 2016 decision to insure new mortgages on properties with Property Assessed Clean Energy (PACE) assessments in an announcement Thursday, but ABS sources say it is only a blip.
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Lending Club filed deal documents midweek for a securitization backed by non-prime consumer loans, the fourth deal to surface from the online platform's CLUB shelf this year. -
The UK government has successfully issued its debut £1.7bn securitization of UK income contingent student loans. Although not to everyone’s taste, it was designed for specific groups of investors that have not typically bought ABS, and set a strong precedent for a planned series of follow-on transactions. Bill Thornhill reports.
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An active secondary market has sprouted in the residential Property Assessed Clean Energy (PACE) ABS sector after two years of watershed growth. A growing volume of tradeable assets is expected in 2018. But the outlook is not so rosy for every area of green securitization, writes Sasha Padbidri.
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Fast food chain Wendy's priced its latest securitization on Wednesday, bringing the volume of whole business deals in the US to over $7bn this year. But sources said that despite the attractions of ABS over vanilla bond issuance, a slow maturation cycle could lead to a quiet 2018 pipeline for the asset class.
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A subprime credit card securitization from Continental Finance surfaced this week to give the yield-hungry something to chew on. But few similar servings are likely to follow given the lack of subprime debt available to be securitized since the financial crisis.
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Banca Carige, the Genoese bank going through a lengthy restructuring process, moved a step further towards its de-risking target this week by selling a €1.2bn portfolio of non-performing loans.
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ABN Amro has registered a second covered bond programme as a Dutch company. Analysts at Rabobank believe the programme will be used for central bank funding purposes.
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Investors are eager for a slice of Tesla’s latest solar securitization from its SolarCity subsidiary, said industry sources, but solar ABS volume could remain limited in 2018 unless the challenge of securitizing commercial and industrial scale solar assets can be cracked.
