Latest news
Latest news
Deals including some commercial mortgages expected to follow
Deal was priced 6bp tighter than most recent iteration of the asset class
More articles
More articles
-
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. -
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.
-
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.
-
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.
-
The amount of significant risk transfer (SRT) transactions executed by US institutions tripled over the past year, a trend expected to continue in 2021 as the synthetics space makes up for lost time after the pandemic. The extension of simple, transparent and standardised (STS) rules into the sector will also help bring first-time issuers into the market, said panellists speaking at IMN’s Virtual Investors’ Conference on Significant Risk Transfer on Wednesday.
-
The significant risk transfer secondary market, a historically inactive sector, had its biggest year ever in 2020, with over $1bn traded as investors either sold to switch to other asset classes or were made forced sellers by margin calls, said panellists at IMN’s 2021 Virtual Investors’ Conference on Significant Risk Transfer on Wednesday.
-
Piraeus Bank has agreed its largest NPL sale to date, with debt purchasing firm Intrum AB agreeing to buy 30% of the mezzanine notes in the securitization of the €4.9bn portfolio.
-
Banks could return to securitization markets in the second half of the year, raising hopes of a revival in simple, transparent and standardised (STS) supply, as issuers who have previously printed deals with the quality stamp look to replace funding as it rolls off, and treasury teams look to purchase high quality RMBS for their investment portfolios.
-
UK Asset Resolution has sold the last of its mortgages to Pimco and Davidson Kempner (DK) and the legal holding companies of Northern Rock and Bradford & Bingley, ending the UK government’s involvement in the crisis-stricken lenders and closing the book on the 2008 bail-outs.
