Latest news
Latest news
PRA and FCA go much further than EU in loosening rules
Liberated issuers will still have to follow European regulations if they want to sell in EU
Citi prepares consumer ABS from Abound forward flow
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Paragon Mortgages will wait until next week to price its latest buy-to-let RMBS transaction after putting out initial price thoughts on Thursday. The deal could signal the start of a run of UK RMBS, with a further three potential transactions being prepared for sale in a sterling market looking to get back on track after a recent wobble in both primary and secondary.
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Paragon Mortgages will wait until next week to price its latest buy-to-let RMBS transaction after putting out initial price thoughts on Thursday. The deal could signal the start of a run of UK RMBS with a further three potential transactions being prepared for sale.
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Paragon Mortgages has mandated banks for its 21st RMBS transaction and could price the deal as early as Friday, as it looks to get the sterling denominated market back on track after a recent wobble in both primary and secondary. -
Blackstone's Invitation Homes has secured preliminary triple-A ratings from Kroll and Morningstar for its third single-family rental securitization of the year, despite concerns over the deal's high leverage and low incomes from the rental properties in the portfolio.
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Allegations made by New York financial watchdog Benjamin Lawsky that loan servicer Ocwen Financial backdated thousands of letters to borrowers, preventing them from appealing denials of loan modifications, could lead to increased servicing disruption and significant costs for residential mortgage-backed security (RMBS) investors, said analysts on Wednesday.
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JP Morgan and Citi announced jumbo RMBS deals this week, bucking a trend in which many would-be issuers have opted to retain jumbos on balance sheet rather than launch securitizations.
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Clarifications on representations and warranties of mortgages purchased by Fannie Mae and Freddie Mac could apply to the agencies’ risk-sharing deals, a Freddie Mac spokesperson told GlobalCapital following comments by Federal Housing Finance Agency director Melvin Watt on Monday.
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More euro-denominated transactions are ready to hit the European ABS pipeline this month, but drawing out sterling transactions is proving a tougher assignment for syndicate teams who are battling against well funded issuers and anticipation of European Central Bank purchases.
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More agency RMBS could be coming to the market if an agreement between Fannie Mae, Freddie Mac and mortgage lenders to clarify liabilities and relax the government sponsored enterprises’ mortgage purchasing standards is reached as expected. The agreement comes as Freddie Mac prepares two new risk-sharing deals.
