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Deals including some commercial mortgages expected to follow
Deal was priced 6bp tighter than most recent iteration of the asset class
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When mortgage payment holiday schemes start to run out at the end of the year, there looms a genuine risk of a wave of defaults. Allowing investors access to borrower-level data may be the only way banks can clean up their balance sheets and maintain lending to the real economy but it is fraught with hazard and must be deftly handled. -
The Supreme Court has taken up the case to decide on the constitutionality of the Federal Housing Finance Agency’s leadership structure, just a few weeks after tackling a similar case in which it ruled the Consumer Financial Protection Bureau’s structure unconstitutional.
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TwentyFour Asset Management has mandated Santander as arranger for Oat Hill 2, a £485m buy-to-let (BTL) RMBS deal, rolling the portfolio of Oat Hill 1 into the new deal after the coronavirus outbreak left the issuer unable to call it at the first optional redemption date (FORD).
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Zam Khan is a managing director in Houlihan Lokey’s Financial Institutions Group, where he leads the portfolio and capital advisory practice. He told GlobalCapital how banks should use financial data to deal with new NPL formations, or risk being engulfed by losses over the next few months.
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Citi has chosen to preplace Canada Square Funding 2020-1, a BTL deal pooling mortgages from originators Fleet Mortgages, Topaz Finance and Landbay Partners. A further seven UK RMBS deals are scheduled to arrive in the pre-summer window over the next month, sources said.
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The end of government control of Fannie Mae and Freddie Mac drew one step closer this week, but a US Supreme Court ruling on the leadership structure of the Consumer Financial Protection Bureau (CFPB) raises the possibility that the course could be reversed under a new government after November's election, write Max Adams and Jennifer Kang.
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BPER Banca, Banco di Sardegna and Cassa di Risparmio di Bra are shifting a €343.4m non-performing loan portfolio, backed by a mix of soured secured and unsecured loans made mostly to corporate borrowers.
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The UK government allowed the growth of the non-bank sector after the global financial crisis, but during the coronavirus pandemic, it has left it to fend for itself.
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Banca Monte dei Paschi di Siena (MPS) is transferring its non-performing exposures (NPEs), totalling €8.14bn in gross book value, to the Italian state-owned Asset Management Company (Amco).
