Latest news
Latest news
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
More articles
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Piraeus Bank will undertake a €1bn equity raise to help it fund the shrinking of its non-performing exposure (NPE) book through securitization. -
Yorkshire Building Society is bringing its debut environmental, social, and governance securitization, which will be the second “social” RMBS offered in Europe, and the first to be backed by vanilla prime collateral.
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Bad debt investors are knocking on the doors of French banks, anticipating a rise in defaulted loans as the Covid-19 crisis worsens. But France is unlikely to see much NPL securitization due to a lack of pressure from regulators.
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The Consumer Financial Protection Bureau has pushed back the date for lenders to comply with its ‘qualified mortgage’ rule by more than a year, easing conditions for homeowners and lenders, but potentially opening the door to riskier underwriting.
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Obvion has mandated Rabobank and Société Générale for its €500m Storm 2021-1 transaction, offering a single tranche to investors with a 75bp coupon over three-month Euribor, expected to price above par. The transaction is the issuer’s first since the Covid-19 lockdowns began.
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UK RMBS could see marginal losses from the government’s Grenfell inquiry pushing the cost of removing flammable cladding on up to 1.5m flat owners across the country, after DBRS Morningstar research revealed on Monday that repossessions could eat into securitized mortgage portfolios.
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If the UK government is serious about reversing the trend in declining homeownership it needs to do more than the half-hearted guarantee on a narrow subset of loans announced in this week’s Budget.
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Citi is securitizing a €300m legacy Irish portfolio of buy-to-let loans acquired from Permanent TSB, carving out the pool from a €1.1bn collection acquired last October.
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Barclays has structured a new mortgage master issuer vehicle, raising the prospects of a return to RMBS funding for a bank which has been absent from the market for nearly a decade. The new vehicle uses the same revolutionary technology present in Coventry Building Society’s Economic Master Issuer deal, which slashes the time, cost and complexity of running these structures.
