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Ares middle market deal in 2025 was the first CLO incorporated in Luxembourg
Banker had been at NatWest for three years
New hire to be US head of digital infrastructure finance for combined firm
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The Paragon Group has acquired additional unsecured consumer loans from the Royal Bank of Scotland as part of its agreement announced last October to acquire such loans for consideration of £43.2 million ($68.9 million) and more modest acquisitions from time to time.
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New rules adopted by the U.S. Consumer Financial Protection Bureau will likely raise operational, compliance and reporting expenses for mortgage servicers, including large banks, according to Fitch Ratings.
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Performance indicators for Portuguese residential mortgage-backed securities are misleading, according to Fitch Ratings.
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Spanish banks may have to close an additional 10,000 to 12,000 branches as a result of a reduced demand for loans, according to Enrique Garcia Candelas, head of retail banking at Banco Santander.
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BNP Paribas, Commerzbank and the Royal Bank of Scotland are among the European banks looking to unload an estimated EUR100 billion ($130.7 billion) in debt to meet new capital requirements through a wide range of debt instruments, including covered bonds and hybrid debt.
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Top executives of the Royal Bank of Scotland and Lloyds Banking Group say their distressed loan books are improving, with RBS’ non-performing loans rising only 6% last year, while Lloyds’ impaired loans have dropped by 10%.
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The sales of commercial mortgage-backed securities linked to multifamily buildings by Fannie Mae, Freddie Mac and Ginnie Mae soared 81% in the first quarter to $13.5 billion from a year earlier, the highest quarterly issuance since Bloomberg began tracking the data in 1993.
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CIFG Assurance North America has asked a New York Supreme Court justice to add GreenPoint Mortgage Funding, a now-defunct loan originator, as a defendant in its lawsuit against Goldman Sachs involving $275 million in mortgage-backed securities.
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ING Direct has announced that it is exiting from the wholesale mortgage business after the online bank was recently acquired by Capital One Financial.