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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 percentage of seriously delinquent mortgages — loans that are more than 90 days without payment — is now at the lowest level since the financial crisis, as the the housing market continues on its long road to recovery.
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TSB Bank is planning to hit the market with its second UK prime RMBS deal following its first quarter results, which showed strong growth in mortgage lending at the bank.
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Fannie Mae’s and Freddie Mac’s credit risk transfer (CRT) programmes continue to attract investors looking to gain exposure to the recovery in US housing, with heightened activity being seen in both primary and secondary markets.
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Fannie Mae is looking to securitize its portfolio of reperforming mortgages (RPL) to reduce its balance sheet, an effort that has been under way since the government sponsored enterprise was placed into conservatorship following the crisis.
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Asset manager Dynamic Credit is close to launching its first Dutch RMBS deal through its Elan mortgage platform, with Goldman Sachs the sole arranger on the deal.
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The first securitization of loans made under the UK government’s £3.5bn private rented sector guarantee scheme is expected to be launched this year.
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Leads on Virgin Money’s prime UK RMBS deal have tightened in pricing on the sterling tranche and set the euro tranche in line with guidance ahead of expected pricing on Friday.
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Home prices in the US increased by 0.4% month-to-month in February according to the latest data from the Federal Housing Finance Agency (FHA)’s House Price Index (HPI).
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The agency credit risk transfer (CRT) market has seen an uptick in secondary trading in recent weeks, boosted by a flight to quality mortgage securities and brisk issuance from the government sponsored enterprises (GSEs).