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
More articles
More articles
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Investors piled into the UK government’s securitization of a portfolio of Bradford & Bingley buy to let mortgages, as buyers snap up sterling backed mortgage assets in the absence of meaningful new supply. -
It is obvious that there is no love lost among Republicans for the Consumer Financial Protection Bureau and its director, Richard Cordray. However, one GOP congressman’s recent tirade against the CFPB’s mortgage lending rules is worrying given the experience of the housing bust.
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Efforts were renewed this week to rein in the power of the Consumer Financial Protection Bureau, with a Republican congressman taking aim at the agency’s mortgage underwriting rules.
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Non-bank lender Precise has mandated leads for a new £300m RMBS transaction, backed by prime UK buy-to-let properties, despite two legacy BTL deals backed by £11.8bn of Bradford & Bingley BTL mortgages surfacing last week.
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While Goldman is a joint lead on Blackstone’s piece of the Bradford & Bingley sale, its involvement is very different to that of Citi and BAML. Those firms were hired by UK Asset Resolution, the seller of the mortgages, but Goldman was brought in by Blackstone.
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The UK government is selling almost £16bn of state assets into the securitization market this month, but is trying to make sure unwarranted profits from the deals flow back to the Treasury, following criticisms of the last round of privatisations. David Bell, Owen Sanderson and Sam Kerr report.
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The US Federal Reserve could start reducing its mortgage backed securities holdings in 2017, something that the market may welcome given the drop in supply seen so far this year.
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Data and index provider IHS Markit is in talks with participants in the agency credit risk transfer (CRT) sector to develop a tradeable index that tracks the performance of outstanding CAS and STACR bonds issued by Fannie Mae and Freddie Mac.
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A Lone Star fund has launched a new securitization backed by non-performing Irish mortgages originated by Bank of Scotland, the second deal backed by Irish legacy assets to emerge this week as private equity firms look to exit post-crisis mortgage investments in Europe’s periphery.
