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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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Investors that have moved into non-conforming UK RMBS paper to improve their returns in the last 18 months should not suffer from poor performance due to increased interest rates, according to Moody’s — despite a warning from the Bank of England to take an impending rate rise more seriously. -
A single family rental securitization and a series of auto receivables transactions are leading new securitization issuance after lighter supply last week.
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The return of Skipton Building Society’s Darrowby prime RMBS programme to the primary market next week will be the latest sign that UK lenders are preparing for life after the government’s Funding for Lending Scheme — and there are more to come in the near future.
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New York regulator Ben Lawsky’s latest target, non-bank loan servicer Ocwen Loan Servicing, received a mark of good standing from Fannie Mae last week after three months of regulatory headwinds. The company’s rapid growth came under the spotlight in January when Lawsky’s office held up its acquisition of $2.7bn in mortgage servicing rights from Wells Fargo, a deal still being held in limbo.
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Morgan Stanley and Nomura have been mandated as co-lead managers for Freddie Mac’s fourth risk-transfer issuance, designed to reduce taxpayer credit risk, according to announcement documents.
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Veneto Banca is set to issue the first brand new RMBS bonds from Italy since the start of the eurozone debt crisis next week, as renewed investor appetite for the country’s risk spurs the market's hopes for more normalised supply this year.
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Home rental investors on Wednesday announced a new trade association to represent their interests with the US government, as policy experts begin to study how their role may impact housing and rental markets.
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The Federal Home Loan Mortgage Corporation (Freddie Mac) is preparing to announce a nearly $1bn risk sharing issuance with the private market, its fourth effort to shed taxpayer exposure to government guaranteed mortgage debt. News of the deal circulated around markets just as a new government sponsored enterprise (GSE) reform bill was announced in the US Congress.
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US-headquartered asset manager Dynamic Credit Partners has been inundated with commitments for its new mortgage origination platform in the Netherlands, demonstrating European investors’ willingness to bypass traditional routes for mortgage investments — such as RMBS — in order to boost returns.
