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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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Cerberus Capital Management sold a second deal backed by its portfolio of former Northern Rock loans last Friday, but the spread widening and coverage levels on the senior notes could be a sign investors are reaching a saturation point after a surge of supply in October.
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European ABS spreads widened briefly on Wednesday morning after the shock US election result, but quickly recovered. -
Central bank stimulus will weigh on UK RMBS issuance in the short term, but that could drag the market into becoming a more significant tool for bank treasurers.
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The first prime residential mortgage-backed securities deal from a bank or building society since the Bank of England introduced its Term Funding Scheme (TFS) in August is expected to be priced on Friday.
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US private equity firm Cerberus Capital Management has launched a new deal backed by UK mortgages from its portfolio of Northern Rock loans.
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Fannie Mae issued its sixth credit risk transfer (CRT) RMBS transaction this week, with investor demand for the bonds showing few signs of abating going into the final stretch of the year.
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Bayview Asset Management caught the eye of RMBS market players by issuing the first ever deal repackaging outstanding credit risk transfer (CRT) securities issued by Fannie Mae and Freddie Mac late last week.
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Despite a rush of new deals in recent weeks, European ABS deals are seeing healthy demand through the capital structure. French RMBS supply was well absorbed last week with Dutch and UK paper expected to hit the market this week.
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A number of single family rental (SFR) properties were damaged by the devastating Hurricane Matthew but, according to Moody’s, the effect on transactions should be minimal.
