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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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Panellists at a Fitch Ratings conference on commercial mortgage backed securities on Thursday predicted a downturn in the European commercial property market.
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The UK subprime mortgage industry suffered its first casualty on Tuesday when Victoria Mortgage Funding, a small non-conforming lender, went into administration.
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SNS Bank announced a Eu2bn residential mortgage securitisation this week, but will keep it on its books as repo collateral.
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The European primary ABS market remained firmly shut this week.
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Standard & Poor’s this week reported that increasing repossessions in the UK housing market did not yet pose a risk to RMBS ratings, but that they were likely to continue increasing.
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Absa’s R3.225bn ($439.2m) Home Obligors Mortgage Enhanced Securities Series 1 Pty Ltd (Homes 1) RMBS deal, its first home loan securitisation, was 1.23 times oversubscribed at pricing on Wednesday.
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Absa had the first roadshow of its Home Obligors Mortgage Enhanced Securities Series 1 Pty Ltd (Homes 1) RMBS last week.
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A run of deals has helped keep Mexico’s residential mortgage backed securitisation (RMBS) market on target for growth. Three public deals have been priced since last Thursday (July 19).
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Spreads in the European ABS market were driven out yet further this week, amid signs of distressed selling and widespread attempts to short the market with credit default swaps.