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Fortress agrees forward flow for €500m of unique assets
Cash SRT pipeline fires up earlier than usual
A new European data centre sponsor, Dutch buy-to-let back in business, CLO equity squeezed and a Bitcoin backed deal
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The Spanish supreme court’s recent ruling that banks should pay certain taxes on mortgage loans harmed the lenders’ trading levels and hindered primary debt market access. Ratings agency DBRS estimates that, in the unlikely worst-case scenario, the sector could face a retroactive bill of €16.9bn. -
Aegon’s mortgage subsidiary mandated five banks on Monday for a new Dutch RMBS, Saecure 16. It is an unusually large syndicate size, but one which reflects the vanilla nature of prime Dutch RMBS. Aegon is a rare issuer in the market, last doing a deal in 2014.
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Barclays has won a role as lead manager and "managing sponsor" on a new Irish RMBS from specialist finance group Dilosk, thanks partly to its willingness to hold the 5% risk retention in the deal. NatWest Markets arranged the deal, and is also a joint lead.
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The recent pricing of WFMBS 2018-1, Wells Fargo's first private-label RMBS deal since the financial crisis, is the tip of the iceberg for big banks mulling how best to get back into mortgage securitization.
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The inaugural French RMBS transaction from Bancassurance group BPCE drew increasingly high levels of demand even as spread guidance tightened, leaving the book well oversubscribed across 34 investors on Thursday.
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Industry executives and federal regulators descended on Washington DC on Monday for the Mortgage Bankers Association's annual housing finance conference, with an uncertain outlook for US housing in a heated economy providing the backdrop.
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Fitch Ratings said on Monday that it expects to issue unsolicited ratings more frequently on deals it has not been mandated to rate, as the agency looks to respond to more widespread late-cycle lending behaviour in securitization markets.
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A pair of UK RMBS deals offering exposure to non-conforming and second lien mortgage pools were sold to investors last Friday, with both deals successfully placed just before a fresh round of Brexit jitters surfaced this week.
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Janet Yellen, former chairwoman of the Federal Reserve, told attendees at the annual meeting of the Mortgage Bankers Association in Washington DC on Monday that she was expecting US economic growth to slow by 2020 as the central bank raises rates to counter inflation.
