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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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Italy’s Banca Carige has said that it has identified the investors that it will pitch to for its sale of €1.2bn of non-performing loans held on its balance sheet. -
Moody's changed its outlook for collateral backing a range of UK ABS sectors to negative on Monday, citing weakening economic data and rising consumer debt as likely to impact securitization performance.
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European securitization issuance in the second quarter topped €71bn, an increase of 91% from the first quarter according to the Association for Financial Markets in Europe (AFME).
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The European Commission is consulting until October on ways to deal with Europe’s non-performing loan problem, and has outlined plans for a new contractual instrument, called the ‘accelerated loan security’, to protect secured creditors from default — without enforcing security through the courts.
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Government sponsored enterprise Freddie Mac said it expected multifamily loan originations to hit new highs in 2017, as CMBS market sources eye a bigger portion of the multifamily pie going to agency lenders instead of conduit deals.
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A BlackRock UK mortgage securitization vehicle, London Wall Capital Investments, mandated leads for its second RMBS deal on Tuesday, as several asset managers shift away from traditional buy-side roles and into securitization-funded direct mortgage lending.
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Joint lead bookrunners HSBC and ABN Amro released price guidance on Tuesday for a rare Dutch MBS offering backed by buy-to-let and owner occupied residential mortgages, as well as loans on mixed use commercial properties.
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Trading in non-agency US RMBS was busy last week, with sellers outweighing buyers as the market grapples with the fallout from trustee Wells Fargo’s decision to hold on to investor cash in a handful of crisis-era deals last month.
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A decade after the shutdown of the US RMBS market, private label issuance is picking up steam again, with a growing number of both prime and non-prime lenders tapping hot capital markets for funding away from the government sponsored enterprises (GSEs).
