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Latest news
Investors able to cherry pick deals from wide variety
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
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The Federal Housing Finance Agency on Tuesday became the latest regulator to highlight risks posed by large non-bank mortgage servicers, which are not held to the same capital standards as banks. -
The Federal Housing Finance Agency, led by Mel Watt, on Tuesday became the latest regulator to highlight risks posed by large non-bank mortgage servicers, which are not held to the same capital standards as banks.
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Precise Mortgages began a roadshow for its second UK RMBS transaction on Tuesday, with ABS bankers keen to see how much the lender can reduce its pricing differential to better established UK issuers in the market.
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Paragon Mortgages has mandated banks for its second buy-to-let RMBS sale of the year, intending to call the Paragon 16 deal it priced in 2011 as it continues to tempt investors back to its credit after not calling a number of deals at the height of the financial crisis.
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Bayview Financial has hit the US market with a $213m securitization of non-performing residential mortgages, one month after pulling a re-performing loan securitization following a public spat between two ratings agencies.
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The Bank of England is proposing changes to its regulatory regime to put a hard 15% limit on new mortgages at more than 4.5 times loan to income, in an effort to clamp down on what it sees as an increasingly overleveraged UK housing market, and limit the downside macro risks if it falls apart.
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Banca Popolare di Vicenza could follow its successful sale of €835.4m of senior notes on Monday with a secondary sale of the mezzanine tranche, said Paolo Altichieri, head of global markets at the firm.
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As JP Morgan priced a $303m jumbo non-agency RMBS this week, investors kept quiet on the subject of representations and warranties, an issue that caused debate the last time the bank printed a jumbo deal. Standard & Poor's highlighted the topic in a pre-sale report for the new transaction.
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JP Morgan’s $303m jumbo non-agency RMBS was priced on Wednesday afternoon, bringing total prime residential mortgage bond issuance to around $2.5bn for the year.
