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Meanwhile, ADMT has set guidance for its $602m non-prime deal
Fortress agrees forward flow for €500m of unique assets
Cash SRT pipeline fires up earlier than usual
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Fitch Ratings flagged a rising risk in the RMBS market in a note this week, as more investor loans are originated using little or no traditional documentation during underwriting. -
Rabobank on Monday announced a new green RMBS transaction from its Dutch mortgage lending subsidiary Obvion, with the bank acting alongside JP Morgan as joint lead manager.
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Banca Monte dei Paschi di Siena (MPS) said on Thursday that it had closed a securitization of €24.1bn of non-performing loans, with rating agencies deeming the senior tranche of the deal to be investment grade.
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The market for RMBS backed by non-qualified mortgages has grown since their inception in 2014, increasing investors’ familiarity with the deals and pushing spreads down on the bonds.
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A panel this week involving German and Italian regulators highlighted the complications in creating a European deposit insurance scheme (EDIS) and pushing on with the banking union, with policymakers in the two countries viewing the banking sector from radically different angles.
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Barclays has hired a former Morgan Stanley banker as director in its asset finance business.
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UK Asset Resolution (UKAR) announced on Thursday that it had sold a portion of Bradford & Bingley’s (B&B) remaining mortgage book to a consortium of banks led by Barclays, following a bidding process by a ‘small handful’ of potential buyers.
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Intesa Sanpaolo’s newly approved plan to tackle its high non-performing loan (NPL) exposure includes a potential securitization of €11bn of gross NPLs and a loan servicing joint venture with a Swedish debt collection specialist as the scramble to win a share of the lucrative Italian debt servicing business gathers pace. Asad Ali reports.
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Intesa Sanpaolo’s newly approved plan to tackle its high non-performing loan exposure includes a potential securitization of €11bn of gross NPLs, and a loan servicing joint venture with a Swedish debt collection specialist.
