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Latest news
Meanwhile, BNP Paribas hires in structured finance
Aspire's first deal is a $391.28m non-prime securitization
Two lenders entering administration should signal to others: simplify the industry
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Volkswagen Financial Services is leading this week’s subdued ABS pipeline, on the heels of a long holiday weekend. There was fresh energy in other securitization markets, however, as a handful of new CMBS deals began marketing after a hiatus in new issuance. -
The head of the Federal Housing Administration, Commissioner Carol Galante, became on Tuesday the highest-ranking policymaker, and the first administration official, to chime in on investor activity in the home rental market.
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Two firms, American Homes 4 Rent and American Residential Properties Inc, will issue debut home rental securitizations in a matter of weeks, after months of anticipation from at least one of the issuers.
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RMBS continues to buck a sharp downward trend in Russian debt issuance this year, with Credit Bank of Moscow prepping its debut transaction and the state-backed Agency for Housing Mortgage Lending (AHML) also set to sell bonds this week.
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Crédit Foncier de France is set to sell the first securitization of French home loans since before the financial crisis, after officially mandating leads for its long-awaited prime RMBS debut. But the issuer refused to be drawn on intense speculation that it will look to place the full capital stack with investors.
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Morningstar Credit Ratings is forging ahead to rate conduit-style securitizations of home rental loans, an offshoot of the single-borrower deals from Blackstone Group and Colony Capital. Credit graders’ eagerness to rate an inaugural transaction, however, has some fixed income investors openly lamenting the post-crisis rating process, which they believe remains flawed.
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Blackstone Group’s buy-to-rent mortgage unit, B2R Finance, which closed its first residential loan in February, intends to source enough supply for a first-of-its-kind securitization of around $300m.
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Morningstar Credit Ratings is forging ahead to rate conduit style securitizations of home rental loans, an offshoot of the single borrower deals from Blackstone Group and Colony Capital. Credit graders’ eagerness to rate an inaugural transaction, however, has some fixed income investors lamenting the post-crisis ratings process, which they believe remains flawed.
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Banco BPI had a good response from investors to its tender offer for 10 bonds from its Douro RMBS platform, with the Portuguese bank deciding to buy back 30% of the bonds tendered at prices close to or just above minimum prices.
