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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Improvements in the US housing market have helped push down loss rates on mortgage bonds issued prior to the financial crisis. But those bonds still contribute to over half of losses in structured bonds worldwide, according to Fitch Ratings. -
Lloyds Bank has used a securitization of prime UK residential mortgages to provide its TSB spin-off with funding ahead of its anticipated initial public offering this summer.
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European borrowers are being emboldened by a strong bid from investors for almost all kinds of ABS, and the UK market is looking like the main beneficiary as Tesco plots its first public credit card deal and another growing lender returns to RMBS.
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ABS investors have been getting in on London’s luxury property boom this week, snapping up a guaranteed RMBS transaction from Swiss private bank EFG International backed by multi-million pound homes in the capital.
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Every offered tranche in Blackstone’s $1bn single family rental securitization, the largest deal to date of its kind, was sold this week at the wide end of guidance. Some analysts say the market may have got ahead of itself after seeing American Homes 4 Rent drive spreads to the lowest level for the asset class last week.
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Lloyds Bank has used a securitization of prime UK residential mortgages to provide its TSB spin-off with funding ahead of its anticipated initial public offering this summer.
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ABS bankers are intrigued to see what premium investors will demand for the latest UK building society RMBS next week, after Principality Building Society mandated for the second transaction from its Friary platform.
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The so called 'father of mortgage bonds' Lewis Ranieri's Selene Investment Partners has begun marketing a new securitization of non-performing mortgages, the sixth such deal this year to whet investors' appetite for a flood of bad loans that could be unleashed in June.
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New York State's celebrity financial services regulator is expanding his department's investigation into non-bank mortgage servicers, giving no indication that the sale of mortgage servicing rights he halted in January would be allowed to proceed any time soon.
