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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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Obvion, the most prevalent issuer in the Dutch RMBS market this year, sold its fifth transaction of the year on Wednesday, a €600m deal backed entirely by seasoned mortgages guaranteed by the Dutch national mortgage guarantee scheme (NHG). -
UniCredit kick-started a process on Tuesday to offload a bad loan portfolio of €17.7bn to securitization vehicles that will be controlled by US investment management firms Fortress Investment Group and Pimco.
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Rabobank, the largest mortgage lender in the Netherlands, announced on Tuesday that it was seeking to register a new Dutch covered bond programme.
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Online consumer and student loan company SoFi is wading into the RMBS market with a debut offering of prime jumbo mortgages, making waves in a sector largely devoid of new supply.
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Crédit Agricole Financements sold a private Sfr214m ($212.2m) RMBS deal backed by Swiss residential mortgages. RMBS issuance is vanishingly rare in the Swiss market — and this trade is unlikely to open the floodgates.
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Cerberus Capital Management will push out another two transactions backed by legacy portfolio acquisitions by the end of the week, while Santander is lining up a full capital stack deal backed by UK auto loans as it targets significant risk transfer.
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Issuance of non-prime RMBS is set to increase in 2017, according to a sector outlook from Moody’s published on Tuesday.
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The incoming presidential administration has made headlines for its proclamations of wide ranging political and economic reforms, but it's also becoming clear that the new president may not be any more willing than his predecessors to tackle one of the most contentious policy issues in the capitol — the reform of the US housing and mortgage finance industry.
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Banca Carige is planning to complete a securitization of at least €900m non-performing loans using the Italian government guarantee scheme in the first quarter of 2017.
