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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
More articles
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The opening day of listed trading from newly merged Waypoint Homes and Starwood Property Trust is the latest sign of institutional expansion among home rental investors with plans to securitize.
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The sluggish start to the year in the ABS primary market is set to continue into February, with only a trickle of mandates on the horizon. UK issuers moving away from the cheap liquidity of the Funding for Lending Scheme may prefer to use the covered bond market over RMBS, said syndicate bankers.
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The bid in the non-agency residential mortgage-backed securities market is softening, despite expectations from traders and dealers that increased supply would be met with healthy demand.
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Macquarie Bank will reopen supply in the Australian residential mortgage-backed securities market after mandating banks for Puma 2014-1, a AUD500 million ($440.34 million) securitization of prime mortgages.
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Eight dealers scrambled Tuesday to submit bids for the Dutch government’s third and final sale of $2.1 billion in ING’s remaining private-label residential mortgage-backed securities portfolio, but investor demand may not be quite as high as the previous ING sale in mid-January.
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By Ted Leveroni, head of derivatives strategy, Omgeo In November 2012, the Federal Reserve Bank of New York’s Treasury Market Practices Group (TMPG) put forward a recommendation for forward-settling agency mortgage backed securities (MBS) transactions to be margined in order to better manage counterparty exposures.
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The New York judge reviewing an $8.5 billion settlement between mortgage bond holders and Bank of America was appointed this month by Gov. Andrew Cuomo to an appellate court, a development that will likely accelerate a decision before she leaves office this Friday.
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Dealers today scrambled to submit bids for the Dutch government’s third and final sale of $2.1 billion in ING’s remaining private-label residential mortgage-backed securities portfolio, but they may be met with more investor hesitancy than the previous sale when they turn around to sell the bonds, according to market participants.
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The rate of Spanish mortgages falling into arrears fell in the last quarter of 2013, according to Fitch Ratings, as the economy emerged from recession. But the rating agency expects house prices will only hit a trough in 2015, with arrears and non-performing loan ratios set to continue rising.