Latest news
Latest news
Acquisition will enhance origination and servicing platform capacity, says buyer
First time two Candide trades have been offered in one year since 2008
How securitization can help high LTV mortgage lending, and why is the CLO market so busy
More articles
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Brass No.7, a prime sterling UK RMBS from Yorkshire Building Society, hit the market this week, lining up behind a sterling buy-to-let (BTL) RMBS already in the pipeline. The deals will give market players a glimpse of where sterling ABS is pricing as summer winds down. -
Fund investors have taken on the senior debt supporting a €1.4bn acquisition of a Bank of Cyprus non-performing loan portfolio by Apollo Global Management last week, despite its lack of a rating.
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Regulatory pressures are pushing banks into shedding unwanted assets. And on the other side of the table, new investors have diversified the marketplace. Jasper Cox reports.
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The role of rating agencies in contributing to the 2008 financial crisis should not be forgotten. Inflated ratings on securities that turned toxic played a major part in the build-up of the financial bubble that later burst with costly consequences.
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Obvion, the mortgage lending subsidiary of Rabobank, is preparing to market Storm 2018-II, an RMBS offering backed by Dutch mortgages.
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With ABS syndicate bankers hinting at a busy pipeline of euro deals next month, two CLOs and a buy-to-let RMBS squeezed into the primary market before the end of August.
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The US Securities and Exchange Commission on Tuesday announced a fine against Moody’s for internal control and modelling issues pertaining to ratings of RMBS, as well as a first ever charge for deficient ratings symbols of CLO combo notes. The rating agency agreed to pay a total of $16.25m to settle the charges.
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Bank of Cyprus said on Tuesday that it had priced €220m of additional tier one (AT1) capital with a whopping 12.5% coupon, on the same day it announced the sale of a portfolio of non-performing loans.
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Wells Fargo announced plans to cut over 600 staffers from its residential mortgage units, the latest of several rounds of cuts at the bank in 2018.
