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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Spain’s Banco Bilbao Vizcaya Argentaria (BBVA) has suffered a raft of downgrades to three RMBS transactions it originated in 2007, after Fitch Ratings found the volume of distressed loans in the portfolios was understated in the transaction’s regular reporting. -
House Republicans are continuing to hammer away at Dodd-Frank and non-bank mortgage servicer Ocwen Financial as a means to help regional and community banks compete for servicing assets.
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Citi priced Thrones 2014-1 on Thursday, despite the last book update at 1.30pm announcing the double A tranche being just 0.2 times done, and some of the others also uncovered at 0.9 times for the class A, 0.7 times on the class E, and 0.5 times on the class F. It did not give a further update on whether the deal was fully covered by investor demand, but priced the deal between 6pm and 8pm on Thursday evening.
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The release of Banco Espírito Santo’s results on Thursday led to a widening in its Lusitano RMBS programme, causing modest weakness across other peripheral ABS markets.
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European investors are deepening the market for US rental housing as Blackstone Group and Deutsche Bank go overseas in search of fresh funding.
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Bayview Financial is foregoing the ratings process on a securitization of once-defaulted mortgages after a ratings disagreement in May scuppered an attempted transaction.
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A £44m block of Eurosail 2007 6NC A2A is up for sale on Thursday afternoon, following a restructuring process that could have made the holders as much as 40 points.
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Citi has circulated initial price thoughts on its Thrones 2014 No. 1 RMBS, the second deal it has managed to fund a Mars Capital portfolio. The senior tranche is being shown at 105bp-110b, in line with the 105bp indicated for Thrones 2013-1, and broadly in line with BAML’s Moorgate Funding 2014-1, priced in early May.
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Blackstone Group’s rental home unit Invitation Homes may be opening up its latest securitization to the European market, two months after paying US investors more than anticipated for every tranche of its last deal.
