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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 European Central Bank said this week it wants banks to provision for legacy non-performing loans in the same way as for new NPL inflows. But, in a major boost for Europe's weakest banks, it is prepared to give heavily burdened banks more time to raise provisions. -
Fannie Mae has announced a pilot programme that would see the government-sponsored enterprise wade deeper into the mortgage insurance business, a move that some critics warn could further distort American housing finance.
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Iccrea Banca, the banking group owned by Italian mutual banks, announced the completion of a €1bn NPL securitization transaction on Tuesday, pooling loans from multiple originators, with an application now pending for a state guarantee (GACS) for the senior tranche rated Baa3/BBB- by Moody’s and Scope Ratings, respectively.
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As demand for investments with good environmental, social and governance credentials rises, are non-performing loans the ultimate social asset class — or toxic waste that ESG investors should disdain?
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Wall Street is accelerating its expansion into the US rental housing market, taking advantage of the continuing trend away from homeownership, though securitization has yet to reap the full benefit.
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Värde Partners, Barclays and Guber Banca announced last Friday the acquisition of a €1.4bn book of non-performing loans (NPL) originated by 53 cooperative banks, rural banks and popolari banks in Italy.
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According to Wells Fargo, monthly CMO issuance in June dropped to $8.9bn, representing roughly a $11bn decline versus May. The decline has been broad based, with fixed-rate pass through agency CMOs declining to $800m versus $3bn in May.
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Real estate giant Starwood Property Trust, the largest commercial mortgage REIT in the US, is changing tack and pushing into a corner of residential mortgage space that has struggled to revive since the financial crisis.
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Clydesdale Bank priced its Lanark 2018–2 RMBS deal on Thursday in a busy spell for the European primary market, with the offering highlighting strong demand for short-dated dollar paper.
