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Issuer's £280m deal was cleverly marketed
Agar previously worked at Guggenheim Securities
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The Federal Reserve Bank of New York has announced it will be offloading additional collateral from two legacy collateralized debt obligations held in its Maiden Lane III portfolio, with auctions scheduled for May 17 and May 22.
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A non-asset trigger breach in Bradford & Bingley’s Aire Valley residential mortgage-backed master trust could cause the underlying bonds on the deal to become more liquid, creating a benchmark similar to the Northern Rock’s Granite U.K. RMBS, which is seen as the bellwether of the European market, according to London-based analysts.
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The EUR36.4 million ($46.8 million) Berlin residential portfolio loan, securitized in Morgan Stanley’s pan-European Silenus (European Loan Conduit) ELoC No. 25 commercial mortgage trade, has been a given a new six-month standstill period containing certain conditions.
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A graph of year-to-date issuance by region and sector, as reported by Securitization Intelligence, accompanied by a bird's-eye view of the activity seen in each sector last week. -
George Smith, senior managing director in Cantor Fitzgerald’s debt capital markets platform, has left the firm to head up the mortgage-backed securities desk at Gleacher & Company Securities; the broker-dealer unit of investment bank Gleacher & Co.
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Real estate-owned assets now account for one-third of all loan delinquencies in U.S. commercial mortgage-backed securities, according to Fitch Ratings.
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Allied Irish Bank priced its first public securitization of residential mortgages, the £428.5 million ($691.2 million) Tenterden Funding PLC, on Wednesday.
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President Obama recently proposed extensive government assistance to homeowners whose primary residences have fallen in value below their unpaid mortgage balances.
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Deutsche Bank has agreed to pay more than $200 million to settle charges that it had misled the U.S. Department of Housing and Urban Development about the quality of mortgages issue by the German lender’s mortgage provider MortgageIT in 2007.
