Latest RMBS news
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.
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.
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.
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.
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.
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.
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.
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.
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).
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.
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.
Latest securitization people & markets news
- First STS deal prices after PCS granted authorisation
- People moves in brief
- Italy to renew GACS for two years without UTP clause
- Nomura takes complex debt bankers from Deutsche
- CIFC exec founds new CLO platform with PE titan
Want full access to GlobalCapital?
If you are new to GlobalCapital or you already subscribe to some of our channels you can still easily extend your access.
Take a trial to the entire site or subscribe online to see all our capital markets news, opinion and data sets.
Don't miss out!Free trial
Read the magazine on your mobile device
Latest news by market and league table performance
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|3||Bank of America Merrill Lynch||17,976.22||56||9.49%|
|4||Wells Fargo Securities||16,568.24||48||8.75%|