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RMBS

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  • FIG
    Lead managers on the latest Dutch RMBS and the new UK non-conforming deals have released guidance, while Yorkshire Building Society’s Brass No 1 is reportedly 1.8 times covered.
  • Sorin Capital Management is restructuring a 2006-vintage collateralized debt obligation, Sorin Real Estate CDO III.
  • New York Attorney General Eric Schneiderman’s recently expanded probe into mortgage securitization could end up hurting bondholders if principal reductions are part of its resolution, investors say.
  • NIBC is keeping securitization in its future funding arsenal, but it is plotting a temperate role in the market.
  • The Federal Reserve Bank of New York could offer the rest of the Maiden Lane II portfolio in one large sale after the next offering scheduled for June 6, according to a New York-based investor.
  • Fund managers are the biggest buyers of European asset-backed securities this year, but investment banks continue to play a major role in the investor pool, according to Barclays Capital research in London.
  • Bret Ackerman, former head of residential mortgage-backed securities trading at StormHarbour Securities, has joined New York-based broker-dealer Odeon Capital Group as a senior v.p.
  • Agency mortgage trader Perrin Arturi has left UBS for a new post at the Royal Bank of Scotland, where he is a managing director reporting to Brian Song, head of agency pass-through securities. Arturi started earlier this month and will focus on 15-year mortgage securities. He declined to comment on the move.
  • NIBC is keeping securitization in its future funding arsenal—even as it plots out a temperate role in the market.