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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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The US single family rental (SFR) ABS market is gaining traction after a quiet first half of the year, as investors seek new methods of accessing the US residential housing market on the back of low RMBS volumes. -
Clydesdale Bank is preparing to issue a new deal from its Lanark RMBS master trust, despite the clogged pipeline of UK issuers caused by the unexpected British vote to leave the European Union.
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A poll of likely US voters found that there is widespread support for the recapitalisation of the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, which have been in conservatorship since 2008.
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UK mortgage borrowers in the north and west of the UK would be most affected in a hypothetical house price decline scenario, according to Moody’s Investors Service, which would affect RMBS with high collateral concentrations in those areas.
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Agency credit risk transfer (CRT) bonds have clawed their way back to pre-Brexit levels following a period of volatility in the wake of the UK referendum, giving the government sponsored enterprises (GSEs) a lift ahead of an expected wave of summer issuance.
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Obvion’s €1bn Purple Storm Dutch RMBS deal, which sold the entire capital stack, shows that despite the growth of whole loan portfolio sales, there is still interest in using securitization as a balance sheet relief tool.
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US mortgage rates have fallen continuously since the UK voted to leave the European Union, with the potential to drive a wave of refinancing activity across the US housing market.
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European ABS investors are set to get a rare slice of French RMBS, with GE Money Bank in France hitting the road with €2bn of French residential mortgages.
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The Federal Housing Finance Agency (FHFA) has reached out to RMBS market participants seeking guidance on how to improve the delivery of the government sponsored enterprises' (GSE) credit risk transfer (CRT) securities and on the practice of setting guarantee fees the GSEs charge to lenders.
