Latest RMBS news
Despite a temporary uptick in the US mortgage refinancing rate in August this year, rising interest rates are weighing on refinancing activity which is pushing issuers to be more creative in how they extend credit to borrowers, according to some market observers.
Private label RMBS is set to have its busiest year ever since the financial crisis. But investors are only cautiously welcoming the upswing in volumes, which is being driven by new kinds of mortgage credit backed by a broader range of borrowers.
Australian mortgage lender Liberty Financial is marketing its latest prime RMBS deal — Liberty 2018-3 — and is looking to drum up interest for a euro denominated tranche to be included in the capital structure.
Senior re-performing loan (RPL) RMBS spreads have tightened by 4bps to 73bps over swaps in the last week, according to Wells Fargo data, their tightest level since mid-June. But a flurry of new deal activity has the potential to push spreads back out, giving the buy side some room on pricing.
The Federal Reserve Bank of New York said on Tuesday it had completed the sale of the remaining securities in the $30bn Maiden Lane LLC portfolio of mortgage securities it bought to facilitate JP Morgan’s acquisition of Bear Stearns in March 2008.
Paragon Banking Group is is confident that the buy-to-let (BTL) market will boost its lending momentum for the rest of the year, despite recent data showing a slowdown in the sector, with the lender looking at a pipeline that is scheduled to beat its 2017 figures by 25%.
Morgan Stanley has transferred one of its senior structured finance bankers to New York as part of an initiative to win more business from US financial institutions looking to shift problematic consumer loans off balance sheet.
Hurricane Florence is giving MBS investors some jitters after last year’s damaging hurricane season, but the markets are holding up, despite risks posed to the bonds by natural disasters.
Hefty demand and oversubscribed order books for Mercedes’ Silver Arrow UK 2018-1 auto ABS deal and Virgin Money’s Gosforth Funding 2018-1 UK Prime RMBS may be an indication of stronger sentiment in euro ABS markets following a tough summer.
The Federal Housing Finance Agency (FHFA) officially proposed changes to US administrative laws to align market activities at the US government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, on Wednesday. The changes would eliminate differences between the GSEs’ securities by 2019.
Go to GlobalCapital's Securitization data pages for our dealflow database, plus details of priced European and US CLOs and structured finance bookrunner league tables.
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Most Viewed: Securitization
Latest news by market and league table performance
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
|2||Bank of America Merrill Lynch (BAML)||8,059||25||11.72|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|2||Bank of America Merrill Lynch||79,057.17||220||9.45%|
|4||Wells Fargo Securities||68,746.03||193||8.22%|