Latest news
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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A Dutch buy-to-let RMBS offering from RNHB, which is expected to be priced next week, is piquing the interest of investors with commercial real estate exposure on top of the residential collateral pooled in the deal. -
The European Commission laid out a plan this week to shrink Europe’s mountain of toxic debt, but sources with an eye on the non-performing loans market say that a solution will be harder to come by than the Commission’s proposal suggests.
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RBS has settled with the Federal Housing Finance Agency over its underwriting of US RMBS, paying $5.5bn for the agency to withdraw its litigation, though it will receive $754m back under an indemnity. Much of the charge was already provisioned, meaning the bank will record an extra charge of only $196m in its second-quarter numbers.
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Legal wrangling over crisis-era US RMBS took another turn this week, following trustee Wells Fargo’s decision to hold on to $94m of investor proceeds from $540m of called bonds to fund legal costs relating to RMBS lawsuits. The move has shocked the market and prompted Fitch Ratings to put $2.2bn of similar bonds on rating watch negative, writes David Bell.
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RNHB Hypotheekbank has mandated HSBC and ABN Amro to arrange its first RMBS offering of the year.
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Northview Group is looking to sell its second RMBS deal of the month, coming to market soon after its non-conforming RMS 30 offering was sold last week.
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A UK auto ABS transaction and a Dutch prime RMBS deal were both priced this week as the European ABS market gets rolling in the second half.
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Italy’s Banca Carige has hit the market with a non-performing loan securitization utilising the Italian government's GACS guarantee scheme, and will place the mezzanine and junior notes with investors.
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GoldenTree Asset Management and real estate investment firm GTIS Partners have teamed up on a joint venture focusing on financing real estate debt across a host of property types.
