Latest news
Latest news
Rating cut as note pays more interest than planned
Inflation caused by war threatens budding recovery in commercial real estate
The rise of the European master trust and the CLO market nears shut down
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Obvion has mandated JPMorgan and Rabobank for a new issue of prime Dutch residential mortgage-backed securities from its STORM program.
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The flurry of private-label residential mortgage-backed securities is being taken as a net positive by the market. But there are still reservations as issuers search for a market standard and as some investors keep their distance in favor of agency bonds.
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UBS Managing Directors John Herman and Brett Ersoff, who last week were made heads of the real estate finance and mortgage-backed securities group, have resigned to take posts at Rialto Capital Management.
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Secondary trading stayed flat this week following the Easter break.
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Springleaf Financial priced the top-rated tranche of its $835.1 million mortgage securitization backed by seasoned subprime residential loans with a shorter life and tighter spread than comparable bonds from the issuer’s recent offerings.
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EverBank plans to sell more residential mortgage-backed securities backed by prime, jumbo loans in a follow-up to its first foray into the securitization sector last week.
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Dutch firm F van Lanschot Bankiers plans to price Citadel 2010-II, an existing Dutch residential mortgage securitization it had retained in 2010, later this week.
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The two residential mortgage-backed securities deals that priced this week have been watched with an eye on what the future standard for representations and warranties in a rebooted RMBS market will look like.
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UBS is appointing John Herman and Brett Ersoff as co-heads of the bank’s real estate finance and mortgage-backed securities business, after Ken Cohen left the bank this week.