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Latest news
Investors able to cherry pick deals from wide variety
PRA and FCA go much further than EU in loosening rules
Liberated issuers will still have to follow European regulations if they want to sell in EU
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The role of rating agencies in contributing to the 2008 financial crisis should not be forgotten. Inflated ratings on securities that turned toxic played a major part in the build-up of the financial bubble that later burst with costly consequences. -
Obvion, the mortgage lending subsidiary of Rabobank, is preparing to market Storm 2018-II, an RMBS offering backed by Dutch mortgages.
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With ABS syndicate bankers hinting at a busy pipeline of euro deals next month, two CLOs and a buy-to-let RMBS squeezed into the primary market before the end of August.
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The US Securities and Exchange Commission on Tuesday announced a fine against Moody’s for internal control and modelling issues pertaining to ratings of RMBS, as well as a first ever charge for deficient ratings symbols of CLO combo notes. The rating agency agreed to pay a total of $16.25m to settle the charges.
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Bank of Cyprus said on Tuesday that it had priced €220m of additional tier one (AT1) capital with a whopping 12.5% coupon, on the same day it announced the sale of a portfolio of non-performing loans.
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Wells Fargo announced plans to cut over 600 staffers from its residential mortgage units, the latest of several rounds of cuts at the bank in 2018.
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Santander priced its Holmes 2018–2 UK RMBS on Thursday, raising more than $1bn, with orders flowing in throughout the three-day book building process.
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The Federal Housing Finance Agency (FHFA) announced on Tuesday that the government-sponsored enterprises will end some funding for the single family rental (SFR) market as it believes larger investors can adequately participate without Fannie Mae and Freddie Mac's assistance.
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Amid a quiet summer lull in the pipeline, Credit Suisse and Nomura are marketing the latest fixed rate RMBS deal sponsored by Caliber Home Loans, a venture owned by two private equity funds belonging to Lone Star.
