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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
More articles
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Federal Reserve chair Janet Yellen has given a clear indication that the central bank is set to raise interest rates this month, but the reaction in fixed income markets has been muted with investors not convinced it is a sign of an aggressive hiking strategy this year. -
Non-conforming Swedish lender BlueStep Bank sold its fourth RMBS deal on Thursday, with both euro and Swedish krone notes placed with investors.
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Angel Oak, an originator of non-prime and non-qualified mortgages, is marketing its first rated non-QM deal, a $146.47m transaction backed by 529 loans with a weighted average borrowers credit score of 698.
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The positive track record of the government-sponsored enterprises’ credit risk transfer programmes could result in less urgency among market players to reform Fannie Mae and Freddie Mac, according to speakers on a panel at SFIG Vegas.
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Rising home prices are leading to lower rates of mortgage defaults, but an increasing number of borrowers taking out home equity loans could offset strengthening housing fundamentals, said market participants this week.
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Bullish talk from the Federal Reserve on interest rate hikes points to a “live meeting” in March, raising concerns about the supply of mortgage-backed securitization (MBS).
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Fitch Ratings weighed in on the increasingly tense debate about the spread of weighted average coupon caps in European securitization, publishing a note on Friday that cautioned investors about the structures but acknowledged that they helped deals get higher ratings with less collateral.
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Despite sections of the market decamping to Las Vegas for the SFIG Vegas conference, the primary pipeline is still moving in European structured finance, as Swedish non-conforming RMBS Bluestep No. 4 and VW’s UK ABS Driver UK Five both head for pricing on Wednesday.
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With prudential regulators looking to take the heat out of the UK’s buy-to-let market, and the non-bank segment already crowded, some alternative lenders such as private equity firms are targeting opportunities in nascent markets in Ireland and the Netherlands. David Bell reports.
