Latest news
Latest news
Liberated issuers will still have to follow European regulations if they want to sell in EU
Citi prepares consumer ABS from Abound forward flow
It plans to include transactions backed by second lien fixed rate mortgages originated post-crisis
More articles
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Ginnie Mae announced on Wednesday that it was restricting loanDepot, an online marketplace lender, from pooling Veteran Affairs mortgages into certain Ginnie securitizations due to aggressive loan churning. -
Natixis and others are in the market with a remarketing of Fanes 2018, an Italian RMBS backed by a static portfolio of first lien residential mortgage loans originated in northern Italy.
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The guarantee on securitization of bank non-performing loans (GACS) is likely to be extended, according to market participants speaking at a non-performing loans (NPL) event by the rating agency DBRS. Traders and other sources suggest the government could extend the programme to loans classified as 'unlikely to pay' (UTP).
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A White House statement on Tuesday indicated that the executive branch will work with US Congress to privatise the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, signalling that any attempt to reform US mortgage finance will need to pass through a deadlocked legislature.
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Australian lender Pepper Money this week started marketing an RMBS that will offer investors a euro-denominated tranche and a short-dated dollar tranche, as the issuer looks ready to be the first to jump into the European securitization market this year.
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More than 60 UK RMBS securitisations containing pre-crisis assets will see credit improvements, according to Moody’s, as the UK's Financial Conduct Authority (FCA) has promised to relax mortgage affordability rules for “trapped” borrowers. The change in approach will affect more than £29bn ($37.87bn) of outstanding bonds.
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Based on a recent study released by data provider Ellie Mae on homeownership trends in the US, millennial borrowers are taking out larger and larger FHA mortgages as low housing inventories continue to push prices upward.
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A handful of prime UK RMBS deals are rumoured to be in the pipeline, along with several prime euro transactions, with issuers said to be targeting US investors while they wait for the fog to clear around new ‘simple, transparent, standardised’ (STS) rules.
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Researchers from Goldman Sachs said on Wednesday that the bank was scaling back its projected targets for year end mortgage and 10 year Treasury rates as indications of a slowing US economy and Federal Reserve dovishness suggest a gentler path upwards for interest rates.
