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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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The EU Commission is rushing to untangle legislation that would have stopped EU investors from buying Australian securitizations or covered bonds, after the country ended up on the EU’s list of non-cooperative tax jurisdictions. -
NPL Markets, which offers access to a trading ecosystem for distressed and illiquid loans, has appointed a handful of senior advisors.
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Italy’s NPL collections have begun edging back to normality, with December’s collections 71% higher than those in November. The latest collection figures are the highest since the pandemic began.
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JP Morgan is opening warehouse lines for UK mortgage origination, ending a prolonged absence from a core part of the European securitization market for the US giant — a prohibition said to have been mandated by senior figures in the bank’s management team.
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A €525.8m Dutch RMBS deal from RNHB backed by buy-to-let loans is out in the market, but at the same time city councils have started introducing limits on BTL purchasing in parts of the Netherlands.
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Hoist Finance is, unlike most of its competitors, a bank that is hoovering up non-performing assets, at a time when banking supervisors are laser-focused on cutting European bank exposures to those very same assets. That should be a problem for Hoist, whose whole business is based around purchasing NPL portfolios from other banks, but it’s a problem which it has been able to solve using securitization.
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Charter Court Financial has sold a secondary reoffer of the class ‘A2’ tranche of its 2019-1B RMBS deal, tapping into a market which has seen spreads retrace the widening experienced during the early months of the pandemic.
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Warehouse terms and costs of financing are improving for buy-to-let lenders looking to tap into the securitization market for funding. Issuers say clouds are clearing for the UK housing sector in 2021, prompting overseas interest in these assets.
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Specialist mortgage lender Kensington’s first ‘social’ RMBS is heading to be priced between 59bp and 62bp, clinching premium pricing for an innovative deal. But investors say the discount is mostly thanks to the scarcity of UK RMBS supply rather than the social element.
