Latest news
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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Credito Valtellinese Banking Group (CreVal) has completed the €347m remarketing of its Quadrivio 2011 RMBS transaction, placing 85% of the bonds outside Italy. The transaction pulled in new demand from US asset managers, in a week that has also seen a mandate for the first publicly-sold Italian RMBS deal since 2011. -
The unrated and riskiest slice in Freddie Mac’s latest risk-sharing transaction was nine times oversubscribed, in contrast to the higher-rated notes that were oversubscribed last year when the agencies first dipped their toes into the private market.
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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.
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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.
