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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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Home Partners of America (HPA) priced its second single family rental (SFR) transaction of the year this week, bolstering what has otherwise been a quiet corner of the US securitization market in 2016. -
Private executions, club deals, non-disclosure agreements and bilateral executions all have their place in the arsenals of syndicate desks and issuers, particularly in the securitization market. But taken together, they are harmful to the market.
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A Pimco-controlled fund has been appointed operating adviser on a £400m book of UK mortgages, securitized earlier this year by Deutsche Bank’s non-core division.
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The US Securities and Exchange Commission (SEC) reached a civil settlement on Tuesday with a former Goldman Sachs RMBS trader for $400,000 and a two year industry ban over the alleged misrepresentation of the price of bonds sold to the bank’s customers.
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Investors in non-performing loan securitizations are a rare find, so issuers which can move early might be better placed to grab some of the limited capital available.
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There's no true political will to end the dominance of Freddie Mac and Fannie Mae in RMBS. The talk in Washington of restoring the private label RMBS market is driven more by a philosophical push against smaller government than by a coherent plan for change, or a willingness to face the trade-offs it requires.
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The UK’s vote to leave the European Union has placed pressure on the country’s property markets, with prices expected to fall in both residential and commercial property. But the sector, and the banks that serve it, are well placed to withstand the pressure, rating agencies have said.
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TwentyFour Income Fund, a listed fund from TwentyFour Asset Management, the UK asset manager specialising in fixed income, has launched its second capital increase of the summer, to satisfy additional demand and finance the purchase of new securities backed by Dutch consumer loans and British mortgages.
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The UK’s RMBS market shrugged off Brexit. Whether it can survive the Bank of England’s new Term Funding Scheme (TFS) is another matter.
