Latest RMBS news

  • Morgan Stanley and BAML take down Cerberus Brexit risk

    Bank of America and Morgan Stanley’s European ABS trading desks have taken on the risk of Cerberus’s refinancing of the Granite portfolio, subscribing on Friday for classes 'B' to 'F' of the giant deal.

    • 22 Mar 2019
  • Brexit holds no fear for Cerberus amid £6bn Granite refi

    Cerberus said this week that it expects to call the securitizations of the Granite book, Towd Point Mortgage Funding Granite1 and Granite2, suggesting the private equity investor is plotting a refinancing. This would mean marketing one of the largest ever UK mortgage deals in the middle of the final, fraught Brexit negotiations — a bold move, but increasingly inviting, as UK banks have rushed to take advantage of an improvement in sentiment this week. Owen Sanderson reports.

    • 21 Mar 2019
  • MBS dealer banks sued in class action for price collusion

    A US state official brought a class action suit on Tuesday against 19 dealer banks for colluding on secondary market pricing and overcharging investors who bought agency MBS between 2009 and 2014.

    • 19 Mar 2019
  • Freddie Mac may be forced to sell off agency MBS through 2019, Wells says

    Wells Fargo analysts forecasted on Tuesday that Freddie Mac will release some $20bn of agency MBS supply this year as the Federal Housing Finance Agency may ask the GSE to shrink its balance sheet as part of a more substantial housing finance reform effort.

    • 19 Mar 2019
  • TLTRO revival spells trouble for new-era securitizations

    Could the European securitization market’s much-vaunted and long-expected “simple, transparent and standardised” framework end up dead on arrival? That’s the worry for market participants who think securitization could be hollowed-out by the European Central Bank’s third TLTRO, writes Tom Brown.

    • 14 Mar 2019
  • Foundation Home Loans secures additional £450m of funding

    Foundation Home Loans, the trading name of Paratus AMC, has entered into a new £350m warehouse credit line with National Australia Bank to support the origination of new mortgages.

    • 12 Mar 2019
  • EU speeds up work on secondary market for NPLs

    EU institutions are working toward a deal on a draft directive establishing secondary markets for non performing loans (NPLs). It is to be the final piece of the NPLs "action plan" unveiled in March by the European Commission.

    • 11 Mar 2019
  • Shallow Sofr markets threaten systemic Libor issuers

    The end of Libor is nigh, but the requisite market activity to build Sofr — the alternative to dollar Libor that has been pitched — into a predictable term rate is still remarkably sparse, potentially leaving issuers dependent on Libor with an unreliable alternative if the rate is no longer quoted after 2021.

    • 06 Mar 2019
  • Housing regulator publishes UMBS alignment regulations

    The Federal Housing Finance Agency (FHFA) last week published its final set of rules on the alignment of prepayment speeds for the forthcoming uniform mortgage backed security (UMBS).

    • 04 Mar 2019
  • Leads unveil cap stack on new Finsbury Square deal

    The Northview Group is preparing to issue a new RMBS from its Finsbury Square shelf, with Citi as arranger and BNP Paribas, Deutsche Bank and National Australia Bank as managers. Also in the pipeline is Ellington's Irish RPL deal and a Swiss franc auto ABS.

    • 04 Mar 2019

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Capital markets data from GlobalCapital

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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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 2,007 6 16.61
2 Goldman Sachs 1,798 4 14.88
3 BNP Paribas 1,434 4 11.87
4 Barclays 1,097 2 9.08
5 Morgan Stanley 1,094 2 9.06

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 20,542.69 67 10.85%
2 JPMorgan 18,820.53 50 9.94%
3 Bank of America Merrill Lynch 17,976.22 56 9.49%
4 Wells Fargo Securities 16,568.24 48 8.75%
5 Barclays 13,499.53 45 7.13%