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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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Merrill Lynch, Pierce, Fenner & Smith, a brokerage subsidiary of Bank of America Merrill Lynch, has agreed to pay $15.7m for defrauding customers and excessively marking up the value of securities while trading non-agency RMBS. -
TwentyFour Asset Management on Wednesday mandated Bank of America Merrill Lynch as arranger for Malt Hill No.2, a buy-to-let (BTL) RMBS comprising mortgages originated by Coventry Building Society through its Godiva brand.
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Clifden IOM, the controversial fund which unsuccessfully tendered for UK non-conforming RMBS from the RMAC series earlier this year, has launched another bid to squeeze cash out of a securitization. This time it is targeting Thrones 2013-1, which is sponsored by Mars Capital and is about to be refinanced.
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Lloyds is weaning itself off the Bank of England’s Term Funding Scheme (TFS), tempting investors back to its RMBS programme with a dollar and sterling denominated offering, after an 18 month absence from the market.
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Freddie Mac priced $263.5m of STACT 2018-SPI2 notes on Wednesday, its largest deal to date in its newest category of unsecured credit risk transfers (CRTs). CRTs are a form of credit insurance on the mortgages held by Freddie Mac.
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The Government National Mortgage Association (Ginnie Mae) has barred three non-bank lenders from contributing home loans made to military veterans to its multi-issuer mortgage-backed securities because of concerns over rapid loan refinancing at the firms, writes Alexander Saeedy.
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NN Bank paid a generous premium for the first Dutch conditional pass through (CPT) covered bond of 2018. The deal emerges in the wake of the European Commission’s decision to halve capital charges for certain securitizations, a move which may cause some banks to reconsider RMBS issuance.
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Treasurer of Obvion and champion of the Storm Dutch RMBS programme, Max Bronzwaer, is set to retire at the end of July, handing over duties to Rachelle Rijk, according to an announcement from the lender on Friday.
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Redwood Trust on Wednesday announced the latest RMBS transaction from its Sequoia shelf, a $410m offering backed by prime home loans.
