Latest news
Latest news
Master trust to finance Rothesay’s purchase of HSBC’s French mortgage book
BMW also priced its UK prime auto ABS
The €500m deal uses a master trust structure
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The Secured Overnight Financing Rate (Sofr), the chosen alternative to dollar Libor rates, has shown more volatility, spiking to an all-time high toward the end of last week before moving back down this week. -
President Donald Trump nominated Mark Calabria, a well-known securitization sceptic, to head the Federal Housing Finance Agency (FHFA) — the body charged with regulating government-sponsored enterprises (GSEs) — on Wednesday.
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CLO market sources tell GlobalCapital that Natixis has been unable to successfully market a CLO reset on behalf of Trinitas Capital Management and will delay the offering until early 2019 as investors balk at tight spreads in a highly volatile market.
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LendInvest, a non-bank lender specializing in property lending and which operates an online marketplace lending platform, has boosted its capital markets and treasury team with the addition of four new hires and an internal promotion for the role of treasurer.
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Max Bronzwaer, the former treasurer of Obvion, has joined the Prime Collateralised Securities initiative (PCS) as a senior adviser.
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Permanent TSB announced last week that it sold a €1.3bn book of non-performing loans, Project Glenbeigh, which hit the securitization market last week in a full capital stack issuance underwritten by Citi. But though the Irish bank has sold the loans and booked the capital benefits, it is still the risk retention holder on the transaction.
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Lennar, the largest home construction company in the US, said on Monday it had completed the sale of its affiliated real estate finance business to Connecticut-based private equity firm Stone Point Capital for $340m.
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Non-bank mortgage lenders are feeling the squeeze as the housing market begins to slow and the era of robust mortgage refinancing activity nears its end.
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The European Supervisory Authorities have tried their best to protect securitization markets from potentially huge damage from January 1 when the new Securitization Regulation comes into effect, encouraging national regulators to apply their powers in a “proportionate and risk-based manner” when new rules come into force next year.
