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'Important to distinguish between a systemic industry issue and a specific operational challenge' says trade body
Investors able to cherry pick deals from wide variety
PRA and FCA go much further than EU in loosening rules
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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. -
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).
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Vague guidance on the Consumer Financial Protection Bureau’s (CFPB) TILA/RESPA Integrated Disclosure (TRID) rule is said to be yet another obstacle standing in the way of the comeback of private label RMBS, as lenders fear having to buy back mortgages that run afoul of the regulation.
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Residential mortgage originators should look to comply as best they can with the recently implemented TILA/RESPA Integrated Disclosure (TRID) rule, despite a lack of clear guidance from the Consumer Financial Protection Bureau (CFPB), Kroll Bond Ratings urged market players in a note published on Wednesday.
