Latest news
Latest news
Citi prepares consumer ABS from Abound forward flow
It plans to include transactions backed by second lien fixed rate mortgages originated post-crisis
Public versus private distinction scrapped for disclosure plus new, simplified templates for mature asset classes
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Affordable housing lender Longhurst Group will hold an investor call next week for a sale of previously retained bonds, using the release of its full year results on Thursday to drum up interest in the deal.
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Fannie Mae has reissued a second round of price guidance after seeing weaker than expected interest for the senior notes in this week’s $2.1bn risk sharing issuance with private investors.
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BlackRock will next Tuesday manage a $4.38 billion sale of Alt-A residential mortgage backed securities in a second and even bigger sale than the record $3.7bn subprime RMBS sale it managed for UBS AG this week. -
Senior Portuguese RMBS bonds have found buyers at a level some 30bp wider in spread terms than they were before investors lost faith in the health of Banco Espírito Santo last week, while some offered Spanish RMBS have struggled to find suitable homes, traders told GlobalCapital on Wednesday.
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The riskiest portion of Fannie Mae’s $2.05bn risk-sharing RMBS is on target to sell on Wednesday at a wider spread than previous deals, which could be due to waning novelty in the sector.
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US housing giant Fannie Mae will soon announce its fourth and largest residential mortgage risk-sharing deal, two months after the chief US housing regulator ordered the agencies to triple their issuances into the private market.
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American Homes 4 Rent, which this month jump-started talk of consolidation among smaller North American investor-landlords, is entering a broader competitive market to acquire an even more distressed kind of residential asset than it originally sought.
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UK non-prime RMBS issuers Precise Mortgages and Paragon Mortgages realised an impressive tightening of higher beta paper with their latest deals this week, with the latter shrugging off a slowing in demand compared to its previous effort this year.
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Redwood Trust was this week the first issuer to test investors’ risk appetite for high-quality mortgages that fall outside the US government’s new lending guidelines, but at least two more firms may securitize other forms of non-QM by end of the year, including Fenway Summer.
