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Investors able to cherry pick deals from wide variety
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Mortgage real estate investment trust (Reit) Annaly Capital Management has appointed David Finkelstein to head its RMBS business and is predicting that the trajectory of RMBS in 2016 will be partly determined by the agency credit risk transfer (CRT) market. -
TwentyFour Asset Management has hired ABS banker Silvia Piva to work on its listed UK residential mortgage fund.
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Virgin Money has mandated leads for a new UK prime RMBS deal from its established Gosforth shelf, which will be issued in multiple currencies and will look to attract US investors with a 144A registration.
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Freddie Mac has announced STACR 2016-DNA1, the first agency credit risk transfer deal of 2016.
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The first RMBS deal of 2016 could set a trend for the rest of the year, with transactions continuing to favour high quality mortgage collateral.
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Bucking the subdued state of the wider European ABS market, demand for UK RMBS is thriving on the back of improved clarity on supply levels and the relative value on offer in the asset class.
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Pent up demand for UK RMBS, driven by the bid process for the sale of UK Asset Resolution’s portfolio of Granite securitizations, helped Kensington Mortgage Company upsize its non-conforming UK RMBS deal to £1.5bn on Wednesday.
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Leads Citi and Bank of America Merrill Lynch have priced the Trinity Square 2015-1 UK non-conforming RMBS deal for Kensington Mortgage Company, landing £1.5bn after the offering was initially sized at £1bn.
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Income&, a San Francisco-based marketplace investing platform, is launching a product for investors looking for exposure to high quality mortgage credit beyond what is currently offered by the government sponsored enterprises.
