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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
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Italy’s Banca Carige has said that it has identified the investors that it will pitch to for its sale of €1.2bn of non-performing loans held on its balance sheet. -
Moody's changed its outlook for collateral backing a range of UK ABS sectors to negative on Monday, citing weakening economic data and rising consumer debt as likely to impact securitization performance.
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European securitization issuance in the second quarter topped €71bn, an increase of 91% from the first quarter according to the Association for Financial Markets in Europe (AFME).
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The European Commission is consulting until October on ways to deal with Europe’s non-performing loan problem, and has outlined plans for a new contractual instrument, called the ‘accelerated loan security’, to protect secured creditors from default — without enforcing security through the courts.
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Government sponsored enterprise Freddie Mac said it expected multifamily loan originations to hit new highs in 2017, as CMBS market sources eye a bigger portion of the multifamily pie going to agency lenders instead of conduit deals.
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A BlackRock UK mortgage securitization vehicle, London Wall Capital Investments, mandated leads for its second RMBS deal on Tuesday, as several asset managers shift away from traditional buy-side roles and into securitization-funded direct mortgage lending.
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Joint lead bookrunners HSBC and ABN Amro released price guidance on Tuesday for a rare Dutch MBS offering backed by buy-to-let and owner occupied residential mortgages, as well as loans on mixed use commercial properties.
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Trading in non-agency US RMBS was busy last week, with sellers outweighing buyers as the market grapples with the fallout from trustee Wells Fargo’s decision to hold on to investor cash in a handful of crisis-era deals last month.
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A decade after the shutdown of the US RMBS market, private label issuance is picking up steam again, with a growing number of both prime and non-prime lenders tapping hot capital markets for funding away from the government sponsored enterprises (GSEs).
