Latest news
Latest news
Green securitizations have been prominent in CMBS this year
Rating cut as note pays more interest than planned
Inflation caused by war threatens budding recovery in commercial real estate
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Northern Rock’s newly rebooted securitization program is not expected to be affected by the planned reprivatization of the government-owned bank, according to London-based market professionals.
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Paragon Mortgage will issue a new securitization of U.K. buy-to-let residential mortgages during the third quarter, likely sized at around £200 million ($322 million), John Harvey, head of structured finance, confirmed to TS.
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Credit Suisse is aiming for the next batch of National Credit Union Administration’s re-securitized legacy bonds, looking to compete with Barclays Capital for the rights to structure and market the $15 billion portfolio, according to an official close to the issue.
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George Osborne, the U.K.’s Chancellor of the Exchequer, has thrown his support behind the Independent Commission on Banking proposals that would require high street banks to ring fence their retail operations to minimize risk of a future crisis.
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Mario Draghi, governor of the Banca D’Italia and chairman of the Financial Stability Board, has criticized European and U.S. banks for trying to weaken new rules adopted by the Basel Committee on Banking Supervision.
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Japanese commercial mortgage-backed securities transactions were involved in more than 90% of negative rating actions in the Asia-Pacific in 2010, according to Fitch Ratings.
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Trustees administering residential mortgage securities could demand changes to securitization documentation if investigations from the New York and Delaware state’s attorneys-general lead to litigation, according to market participants.
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Europe’s securitization sector must move beyond comparisons to the market heyday when focusing on its nascent recovery, panelists said Tuesday at a packed morning session at the Global ABS conference in Brussels. -
Asset manager Stone Tower Capital will be taking the remaining scraps from its structured investment vehicle, Axon Financial Funding, to public auction June 30 in its second attempt to liquidate the structure since its 2007 default.
