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
More articles
More articles
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With October’s steep stock market plunge signaling the market is in correction territory, while the Federal Reserve pumps the brakes on expansionary monetary policy, RMBS has managed to outperform versus other asset classes this month. -
The steady creep upwards in interest rates and a brewing affordability crisis had bankers and investors at the SFIG Residential Mortgage Finance Symposium on Monday on edge, leading even some executives to declare that it has become impossible for many middle-income Americans to afford a mortgage.
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Northview Group will test global demand for its UK RMBS, Finsbury Square 2018-2, despite the all-sterling capital structure of the deal.
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Fannie Mae priced its second issuance of securities tied to the Secured Overnight Finance Rate (SOFR) on Thursday, helping provide additional duration points on the SOFR curve as markets navigate the early days of LIBOR alternatives.
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Securitization investors in Europe are likely occupied more with analysing the heavy deal flow in the market than concerned about the overnight crash in US and Asian stock markets, with three trades in syndication, three more on the road, plus brisk CLO flow.
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The whole bottom of the rated capital structure in Rochester No. 2, a UK RMBS originally structured from Deutsche Bank’s non-core book, was out for sale in a BWIC on Wednesday afternoon, according to data from Empirasign.
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The ECB would like Piraeus Bank to raise tier two capital, but issuance over the past few months has proved too difficult. The bank can afford to wait for now — but it has a challenging road ahead.
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Two regular UK RMBS issuers announced new deals on Tuesday, adding to a busy pipeline for next week. The Northview Group mandated a new Finsbury Square deal, its second this year, while Together Financial Service unveiled its first securitization of the year.
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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.
