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
More articles
More articles
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David Singelyn, CEO of American Homes 4 Rent, which on Tuesday launched its debut single-family rental securitization tighter than price guidance in every offered tranche, questioned the validity of rumours that Blackstone's Invitation Homes may issue a $1bn securitization tied to rental properties. -
The chief housing regulator that oversees Fannie Mae and Freddie Mac is not yet convinced it has nailed down the appropriate model to transfer risk to private investors, and it may further test the market with new types of deals to ensure the GSEs are charging enough to guarantee the bonds they are selling.
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Initial price thoughts on Crédit Foncier de France’s RMBS have around 10bp back of UK names in the three year maturity, in line with ABS bankers’ expectations. Fellow French lenders will be eyeing the final pricing on the deal with interest as they weigh the potential of the asset class to provide capital relief.
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A new flow ABS trade from an established issuer is set to be announced this week, joining some more unique transactions in the pipeline as bankers predict the good primary market conditions will tempt more borrowers.
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Blackstone is set to follow up its market-opening rental property securitization with a new deal that will be twice the size and could begin marketing within a month through lead manager Deutsche Bank. The news comes just after Deutsche warned that property investors could be in store for a flood of lawsuits from evicted tenants — but a Moody’s analyst said there was little risk of such litigation hurting the home rental securitization market
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Swiss private banking group EFG International is set to issue a guaranteed UK RMBS deal backed by high value mortgages on properties in and around London, looking to gain capital relief and funding for its UK business.
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UniCredit pre-placed a £208.5m four year securitization of non-conforming UK mortgages inside 100bp this week, following on from a more broadly syndicated trade from Bank of America Merrill Lynch as strong demand for paper helps issuers repackage long-held assets.
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The Bank of England sprung no surprises on Thursday and held interest rates at 0.5%, but new figures showing arrears continuing to fall are the latest in a run of strong data that has some BoE policymakers agitating for action to cool the housing market.
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The Bank of England sprung no surprises on Thursday and held interest rates at 0.5%, but new figures showing arrears continuing to fall are the latest in a run of strong data that has some BoE policymakers agitating for action to cool the housing market.
