Latest news
Latest news
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
More articles
More articles
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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. -
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.
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Fannie Mae priced CAS 2016-C03, its third credit risk transfer (CRT) deal of the year, on Tuesday with final pricing coming in just one day after the deal was announced.
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An improvement in market conditions since Nationale-Nederlanden Bank (NN Bank) was last in the RMBS market didn’t help initial spreads on its privately placed €500m deal come any tighter this week.
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The senior notes of Towd Point Mortgage Funding 2016-Granite 1 are being bid 5bp tighter in secondary trading, though flows are said to be limited, with most of the tranche preplaced. Final pricing last Friday afternoon showed Cerberus missed its reserve levels for the very bottom of the capital stack, with classes G, Z and X fully retained, though they had been listed as “call desk” until Friday morning.
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RMBS investors are flooding back to the agency space, as renewed volatility in global markets drives a flight to quality.
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Several large US banks are looking to follow in the footsteps of JP Morgan Chase by using the Federal Deposit Insurance Corp's (FDIC) safe harbour rule in securitizing residential mortgages.
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Cerberus Capital Management’s £6.2bn financing of its Granite portfolio has cleared uncertainty for the market, and shown that European securitization can handle serious size — with the help of huge tickets from rarely seen accounts, write Owen Sanderson and David Bell
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Cerberus Capital Management’s launch of a £6.2bn UK RMBS deal — the biggest European ABS sale since the financial crisis — has finally lifted the uncertainty that has been hanging over the UK ABS market since the Granite sale process began a year ago, according to market participants.
