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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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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. -
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.
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Freddie Mac auctioned off a pool of residential mortgage insurance contracts from its ACIS shelf late on Monday, which will cover up to $300m of losses on $19.1bn of 15 and 20-year mortgages purchased by the agency between May 2017 and February 2018.
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Angel Oak announced on Monday that it had completed its largest RMBS deal to date, AOMT 2018-2, backed by 1,096 mortgages with an average loan size of $366,797. Deutsche Bank and Nomura were joint bookrunners on the deal.
