Latest news
Latest news
The £500m trade is the joint largest non-bank credit card ABS, matched by CoT’s previous deal
Lendco also added a UK BTL RMBS to the pipeline
This is the second RMBS deal from the PIF-backed issuer
More articles
More articles
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During the darkest days of the credit crisis, participants in the European ABS market consoled themselves with the thought that on this side of the Atlantic liquidity was the problem, not credit quality.
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HBOS has launched its first securitisation of residential mortgages into the market since the credit crisis began, with a £500m deal that prised open a vital funding market for UK banks.
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Secondary market spreads for European ABS continued their rally for most of the week, but slipped on Thursday after the Bank of England and European Central Bank held their policy rates.
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MORGAN STANLEY and KIT Finance Investment Bank have priced a R6bn ($256m) securitisation of Russian mortgages for KIT.
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The Bank of England today (Monday) unveiled a new £50bn liquidity facility designed to clear the overhang of mortgages created by and perpetuating the credit crunch.
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BEAR Stearns’s UK non-conforming lender Rooftop Mortgages will cease new origination today, joining an ever increasing list of lenders to succumb to the credit crunch.
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A rare offered European RMBS emerged this week when Royal Bank of Scotland priced a Eu120m securitisation of Dutch mortgages for GMAC.
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Rating agencies warned this week that the Spanish housing market faces a serious downturn and that some RMBS may be downgraded.
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Danske Bank has closed Prime Bricks 2008-1 GmbH, a transaction for Danske Bank to transfer risk on a Eu1.5bn portfolio of Danish mortgage loans originated by Realkredit Danmark, a subsidiary of Danske.