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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
More articles
More articles
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Residential mortgage-backed securities rank first among structured-finance products downgraded in North America in the third quarter by Fitch Ratings but the number dropped sharply from the preceding three months.
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A new mortgage plan being kicked around between big banks and regulators left ABS East attendees with plenty of questions.
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Panelists hotly debated principal reduction at the ABS East Alternative Loan Modification Programs for Distressed and Non-Performing Loans panel, with some saying reducing mortgages is the path to borrower success, and others countering that the mod makes for moral hazard and a hit for investors to absorb.
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Splitting the government-sponsored enterprises into old and new companies, with the “old cos” holding legacy mortgage loans backed by a government guarantee and the “new cos” originating loans without government backing, is the first step to giving the mortgage-backed securities market a fresh start, said James Lockhart, vice chairman at WL Ross & Co., in Monday’s keynote address at ABS East. -
ING Groep is considering entry into the European mortgage-backed securities market for the first time, according to Martin Nijboer, head of long-term funding at the Dutch bank.
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Primary issuance of asset-backed securities in Europe could be set to take a breather until November, following the recent spike in new issue trades in the past two weeks.
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Moody’s Investors Service said today it is reviewing 82 tranches of 27 U.K. non-conforming residential mortgage-backed securities deals, as well as two tranches of one consumer asset-backed deal, due to their connections to the Skipton Building Society.
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ING Groep, the largest Dutch financial services company, is eyeing a debut residential mortgage-backed security offering for the European market in 2012.
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Buying up non-performing mortgages is more attractive now than ever before, according to Tom Capasse, principal at Waterfall Asset Management.
