Latest news
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
More articles
More articles
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British banks have reduced their interbank lending to the peripheral eurozone by nearly 25% over the past three months in light of the worsening European debt crisis.
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U.K. residential mortgage-backed securities have performed better than RMBS in the U.S. and Europe as the U.K. has not experienced the problematic lending practices in the former or the debt crisis in the latter.
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Delinquencies of 60 days or more in loans in Dutch prime residential mortgage-backed securities deteriorated slightly in the third quarter, climbing from 0.7% to 0.9%, according to Moody’s Investors Service.
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Performance of Spanish residential mortgage-backed securities showed a stable trend in the third quarter while asset-backed securities linked to loans to small and medium-size enterprises continued to deteriorate, according to Moody’s Investors Service.
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The Treasury’s sale of Northern Rock to Virgin Money, announced on Thursday, includes the first UK use of a hybrid instrument targeting CRD IV compliance.
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Northern Rock’s Granite master trust hit a non-asset trigger three years ago this Sunday — switching all the bonds to sequential pay, and creating at a stroke the most liquid instrument in European ABS, with £30bn in outstanding notes. Since then, Granite has come to function as the de facto benchmark of the market. What role remains for the trust today? Owen Sanderson finds out.
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Fitch is examining UK RMBS documents ahead of a January deadline which could see deals breach the Payment Services Regulations 2009. Collecting payments from UK consumers is a tightly regulated area — leading to unintended consequences for RMBS deals, and exposing noteholders to commingling and counterparty risk.
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Freddie Mac will begin securitizing previously delinquent mortgage loans that have reclaimed their performing status.
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Google has helped clamp down on loan-modification scams by suspending advertising relationships with more than 500 Internet advertisers and agents associated with 85 alleged online mortgage fraud schemes and related deceptive advertising, according to the special inspector for the Troubled Asset Relief Program (SIGTARP).