Latest news
Latest news
UK lender has placed €1.5bn of Dutch prime RMBS paper this year, doubling its annual issuance
Dutch mortgage provider launches its second public RMBS of the year
Newcastle is marketing a prime RMBS, while Enra offers a first charge non-conforming RMBS
More articles
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Recovering Irish residential property prices will yield Royal Bank of Scotland’s Ulster Bank division £300m of net impairment provision releases in the third quarter of 2014, the UK banking group said in a trading performance update to the market on Tuesday. -
Dutch insurer and mortgage lender Aegon will looking to emulate the success of compatriot Obvion in the RMBS market next week after mandating banks for a roadshow. Obvion set a post-crisis record tight with its latest Storm RMBS last week as investors pile in to European ABS in anticipation of buying from the ECB, which could be launched as early as next week.
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Two of the most regular issuers in the European securitization market proved the European Central Bank’s ABS purchases were no simple compression trade this week, printing large trades that reset the tight end of the market.
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UK Asset Resolution’s restructuring of the Aire Valley RMBS master trust has prompted a possible Moody’s upgrade for the bonds, since it will strip out poor quality loans making up around 50% of the pool.
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Fitch has put specialist UK mortgage lender Kensington Mortgages’ special servicer rating on its "evolving" list, pointing to uncertainties created by Investec’s recent sale of the business to Blackstone and TPG Capital.
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Both tranches of Obvion’s Storm 2014-III Dutch RMBS transaction were set to be priced well inside initial guidance on Thursday, showing it is not just the wider end of the ABS market benefitting from the European Central Bank’s backing.
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The chief operating officer of Fannie Mae, the government-sponsored entity which provides the largest source of funding for US mortgages, is stepping down. Joy Cianci will take over some of his responsibilities.
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JP Morgan intends to issue a new non-agency jumbo RMBS deal, according to a Kroll Bond Rating Agency presale released on Tuesday. Despite this being JP Morgan's third such deal this year, banks are generally opting to keep jumbo non-agency mortgages on their books, however.
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Five year notes in Obvion’s Storm 2014-III Dutch RMBS could be priced at 35bp tomorrow, after lead managers Rabobank and Citi issued guidance of 25bp-30bp on the class A1 notes and 35bp-40bp on the class A2 notes, from initial price thoughts which were 5bp wider.
