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Latest news
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
More articles
More articles
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The European Union's ban on securitizing self-certified residential loans has been widely criticised by the market since being introduced last month, with DBRS adding to the outcry this week, describing the rule as a “solution looking for a problem”. -
The Blackstone Group’s Invitation Homes will merge its single family rental portfolio with Starwood Waypoint Homes, in a deal that will create the largest SFR portfolio in the US.
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Private equity firms and loan investors are taking a keen interest in Greece, prompting a rush to establish servicing platforms to take advantage of the attractive fees associated with the resolution of non-performing loans. Owen Sanderson and Sam Kerr report.
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The UK ABS market has slowed with the rest of Europe in August, with fewer investors participating in recent deals. But sources said September is primed for a strong comeback.
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Attractive arbitrage is encouraging more prime jumbo RMBS issuance, with JP Morgan set to launch a new $1bn deal this week.
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Despite UK assets offering juicier spreads than their European counterparts, distribution stats show little European investor participation in UK deals. That might be disappointing for UK issuers, but at least it means little to fear from a hard Brexit.
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The European ABS market is entering into its seasonal summer quiet period, with the pipeline slowing to a trickle after a number of new transactions were priced last week.
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UK ABS market participants cheered last week’s confirmation from the Bank of England that its Term Funding Scheme (TFS) will wrap up in February 2018, but opinion in the market is that the programme should not have gone on that long to begin with.
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A former senior vice president at government mortgage agency Fannie Mae has joined Flagstar Bank to lead its mortgage business.
