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Meanwhile, ADMT has set guidance for its $602m non-prime deal
Fortress agrees forward flow for €500m of unique assets
Cash SRT pipeline fires up earlier than usual
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Dutch RMBS issuer Domivest released initial price thoughts for its first buy-to-let RMBS deal issued with a ‘simple, transparent and standardised’ (STS) stamp, with levels tightening off the back of limited supply in 2021. -
UK specialist lender Paratus AMC is up for sale, GlobalCapital understands. If a deal is done, it will open a new chapter in the history of one of the best known names in European securitization, and change the ownership structure for a host of RMBS deals.
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Three years after the label was first launched, Dutch mortgage lender Domivest is bringing the first BTL RMBS transaction to qualify for the ‘simple, transparent and standardised’ (STS) framework.
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Ireland has become the first country in Europe to end mortgage payment holidays, with arrears dropping off towards the end of 2020. RMBS investors are eager to see whether moratoriums turn to future defaults — and whether this will hit other countries as their repayment rest periods come to an end.
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The European Banking Authority’s consultation assessing risk weights and loss given default of mortgage risk has drawn a mixed response from bankers, with some suggesting the regulator was angling for higher capital charges, while others came to the opposite conclusion.
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The European Banking Authority has published a new version of its NPL data templates, which are supposed to serve as a standardised way for buyers and sellers of non-performing portfolios to exchange information.
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Fleet Mortgages is offering its first UK buy-to-let RMBS under the London Wall brand since 2018, following several years in which the company’s collateral emerged largely in Citi’s multi-originator principal shelf Canada Square. One William Street Capital, which renewed its partnership with Fleet in 2019, is sponsoring the deal.
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Mars Capital, now a subsidiary of Arrow Global, has probably sold controlling positions in two Irish reperforming loan portfolios, securitized in RMBS transactions Grand Canal 1 and 2, with the Grand Canal 1 portfolio rapidly returning to the market in a Morgan Stanley-backed deal announced on Wednesday. The move comes as TDR Capital’s bid for Arrow heats up, with shareholders now ready to vote on approval.
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Mental health is moving to the forefront in the discussion of what action lenders should take when people are no longer able to pay back their debts. One lasting legacy of the pandemic could be that repossessing a home becomes a last resort rather than a first response and that will have consequences for investors in mortgage-backed products.
