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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 capital structure on Auburn 9, the new buy-to-let RMBS sponsored by Cerberus Capital Management, has been tweaked to increase the step-up margin, reflecting investor nervousness about extension of the bonds.
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B2R Finance, which issued its first single-family rental ABS deal earlier this year, has hired a former senior executive at American Express and Fannie Mae as its CFO.
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Paragon Group and Precise Mortgages both launched and priced their UK buy-to-let RMBS deals on Thursday, paying higher spreads than on their last such deals.
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Fannie Mae’s third credit risk transfer securitization of the year has been priced, with the final size exceeding the sponsor's initial target.
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Freddie Mac is close to obtaining reinsurance coverage for all of the retained portions of its risk transfer securitizations, a vice-president at the firm told GlobalCapital. -
TwentyFour Asset Management has raised £250m for its UK Mortgages Fund, which will invest in whole loans with an aim to securitize them in the future.
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Precise has issued a capital stack and guidance on its buy-to-let RMBS, with the senior class remaining at the spread offered at the initial thoughts stage.
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Banks have disclosed that they originated more residential mortgages last quarter, but market participants say the loans will only be securitized in agency deals.
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In the four months since Paragon priced its last UK buy to let RMBS, the lender’s outstanding bonds — along with much of the rest of the market — have drifted lower in price as Greece cast the pall of uncertainty over global capital markets.
