Latest news
Latest news
Several banks are reining in their appetite for warehouse lending
TwentyFour priced its Dutch prime RMBS refi, Blackstone its sterling logistics CMBS
Blackstone is aiming to execute its CMBS before the market shuts for Global ABS
More articles
More articles
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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. -
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.
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Natixis on Monday promoted Peter Cui to head of structured credit syndicate in its European business, replacing Dimitris Papadopoulos who left to run CLO origination and syndication at Credit Suisse in September last year.
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Kensington is marketing the first ever RMBS 'social bond', which could mean investors accepting a lower spread for their mortgage bonds thanks to the label. But Kensington’s lending approach will be little changed by the new issue, raising the question of what the new issue changes.
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Kensington Mortgages is bringing the first labelled social RMBS in Europe, a landmark transaction set to be followed by others, as the securitization market catches up to other capital markets which have more readily adopted ethical frameworks. By Tom Brown.
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Dilosk, the Irish mortgage lender, has launched its first RMBS deal that includes owner-occupier loans, branching out from the buy-to-let offering it has stuck to for the past five years.
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New deals are flooding into the European securitization market, especially the UK, in the last week of January, after two RMBS issues attracted unprecedented demand. Issuers are betting investors remain hungry for securitized products, despite national lockdowns.
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A flood of European accounts entering the sterling market helped boost the UK RMBS market to levels not seen since 2018, with debut issuer Lendco push Atlas Funding 2021-1 at the tightest pricing seen for an inaugural buy-to-let deal since 2008.
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The Spanish government’s decision to extend laws that prohibit tenant evictions is a blow for the credit strength of the country's covered bond and mortgage securitizations. But even so, supply scarcity will continue to have more influence on Cédulas valuations and spreads, which have already tightened this year and may well have further to go.
