Latest news
Latest news
Invictus, Annaly, JP Morgan to print a billion dollars each next week
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
More articles
More articles
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A clearer picture of the scale of distressed Irish mortgages has emerged after Allied Irish Banks revealed that up to 10,000 of its most distressed borrowers will probably need long-term refinancing solutions, including possible debt write-offs.
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Virgin Money, the bank that acquired Northern Rock’s performing mortgage book, is gearing up for a second RMBS this year from its Gosforth programme. It will be the first publically sold RMBS from a UK issuer that has signed up to the Bank of England’s Funding for Lending Scheme (FLS), showing that the cheap central bank money won’t put a stop to new deals.
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The Nebraska Investment Council is gearing up for management and allocation changes to its roughly $693 million fund, as well as looking to make opportunistic investments in residential or commercial mortgage-backed securities as its five-year-old distressed MBS investments wind down, according to sister publication Foundation & Endowment Intelligence.
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Europe’s securitization market saw solid trading of bonds from a bids-wanted-in-competition list stacked with prime resi paper from U.K. building societies, while U.K. non-conforming and buy-to-let bonds also piqued traders’ interest in secondaries this week.
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A clearer picture of the scale of distressed Irish mortgages has begun to emerge, after Allied Irish Banks revealed on Wednesday that up to 10,000 of its most distressed borrowers will probably need long-term refinancing solutions, including possible debt write-offs.
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NIBC Bank now owns all class B, C, D, E and F subordinated and mezzanine notes in its Dutch residential mortgage securitization SOUND I, and 99.42% of the class S notes, in a buyback that totalled EUR48.8 million ($63.2 million).
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If last week's 12.9% decline in the Mortgage Bankers Association mortgage refinancing index is prompting you to give up on the Federal Reserve's third round of quantitative easing, don't throw in the towel just yet, say Bank of America-Merrill Lynch researchers.
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Investors are said to be growing increasingly concerned about the lack of supply of securitization paper in the European market this week, but London-based syndicate bankers on the frontline insist the supply-and-demand imbalance has helped pull spreads in to more sensible levels for issuers.
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A weekly roundup of securitization sectors with year-to-date totals in ABS, CMBS, RMBS and CLOs in the US and Europe.
