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
More articles
-
The European Banking Authority has lifted the spirits of those working in the significant risk transfer (SRT) market by suggesting that call options and early termination rights should not disqualify a transaction from achieving SRT recognition, pushing back on proposals made by European Parliament members. -
An ESG framework for the European securitization market is a noble aim but the middle of this pandemic is not the time to implement it. The European Parliament needs to take its time and make sure such a regime is built to last, and not throw it in alongside emergency legislation.
-
The UK’s Financial Conduct Authority has launched a new platform dedicated to listing all securitizations which qualify as ‘simple, transparent and standardised’, preparing the UK securitization market for the end of the Brexit transition period.
-
The RMBS market is expected to see more issuance in 2021, boosted by all-time lows in mortgage rates and a faster dealmaking process enabled by technology borne out of the pandemic.
-
The securitization market is pushing back against proposals in the European Parliament to tack a green framework for ABS deals onto existing discussions about NPL and synthetic securitizations that were supposed to be rapid-fire amendments to help the market fight off Covid-induced economic woes. Tom Brown reports.
-
The Federal Housing Finance Agency (FHFA) issued its final capital rule on Wednesday, mandating more capital for Fannie Mae and Freddie Mac to ensure they exit conservatorship on a ‘sound capital footing’. The agency’s progress towards privatisation could be limited by the likelihood that President-elect Joe Biden will switch out FHFA boss Mark Calabria for a Democratic pick.
-
Citi is planning to issue at least two deals a year from its new Dutch buy-to-let RMBS programme, putting the Jubilee deals on par with the bank’s Canada Square shelf in terms of issuance. Citi released an update for the €213m Jubilee Place 2020-1 on Tuesday, guiding the class ‘A’ notes in the 110bp area.
-
State regulators announced a set of ‘safety and soundness’ standards for non-bank mortgage servicers, which include higher capital and liquidity requirements. While the new rules are aimed at providing better protections during a stress event, sources argue that states are imposing too harsh a standard on the private, non-deposit taking institutions.
-
Kensington Mortgages and Yorkshire Building Society are looking into replacing the Libor benchmark with Sonia plus a spread adjustment for legacy contracts, easing the switch of sterling RMBS bonds while the UK market awaits further guidance from its regulator.
