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Latest news
Volkswagen also added a UK auto ABS to the primary
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
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President Barack Obama in his State of the Union message Tuesday night asked Congress to approve a mortgage-refinance plan that would allow borrowers current on their loan payments to secure a new mortgage at record-low rates.
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Issuance of residential mortgage-backed securities linked to multifamily dwellings by Fannie Mae surged 45% in 2011 to $23.8 billion.
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Fitch Ratings has downgraded 489 distressed bonds in 291 U.S. residential mortgage-backed securities from Csf and CCsf to Dsf, indicates the bonds have incurred a principal write-down.
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Lisa Madigan, the Illinois attorney general, has filed suit against Standard & Poor’s for its role in assigning its highest ratings to “unworthy” mortgage-backed securities in the years leading up to the housing market collapse.
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Market players at the ASF2012 conference in Las Vegas this morning expressed little concern over President Obama’s State of the Union speech last night, in which he called on Congress to pass legislation allowing homeowners current on their mortgages to refinance.
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Rabobank and Société Générale, lead managers on Obvion’s Storm 2012-1 Dutch RMBS, are looking at levels for the ‘A1’ notes 5bp-10bp inside the initial 120bp guidance, released on Tuesday.
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A new collateralized debt obligation of European residential mortgage-backed securities by NJR Invest is raising eyebrows among market participants in the region.
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Leads Rabobank and Société Générale have published price guidance for Storm 2012-1, a new Dutch RMBS from Rabo subsidiary Obvion.
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KBC Bank has amended deal documents in Irish RMBS deals Phoenix Funding 2 and 3, to avoid triggering counterparty replacement provisions — exactly what Fitch warned issuers to avoid at the beginning of the year.