Latest news
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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The Bank of England has refocused the incentives of the Funding for Lending Scheme (FLS) towards business lending for next year to head off a potential housing bubble, but ABS bankers said it had removed only one factor contributing to a dearth of UK RMBS supply in 2013.
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The Federal Housing Finance Agency announced Tuesday it would maintain the maximum conforming loan limit at $417,000 for one-unit properties and $625,000 in higher-cost markets.
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Colony Capital is preparing a rental income securitization for early 2014 through its subsidiary Colony American Homes and has expanded its credit facility from JPMorgan and Credit Suisse to $1.2 billion.
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Australian mortgage provider Bluestone Group is looking to place nine tranches of bonds with investors this week, after announcing a securitization of non-conforming residential mortgages.
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Kroll Bond Ratings Agency is set to release a methodology explaining how it would rate residential mortgage-backed securities collateralized by loans that fall outside the Qualified Mortgage rule. A pool of high quality non-QM loans could obtain a AAA rating from the firm, senior director Michelle Patterson told SI. The agency may release the methodology as soon as this week or next.
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Shocked mortgage investors scrambled to take in news Thursday that a tactical change in voting thresholds would “virtually guarantee” Rep. Mel Watt (D-N.C.) the votes he needs to replace acting director Ed DeMarco and take over as head of the Federal Housing Finance Agency.
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Talk of non-prime residential mortgage-backed securities is rekindling around reports that a handful of firms are testing the waters with investors and ratings agencies, but market players say major hurdles remain for the asset class.
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Charter Court Financial Services’ first securitization of non-prime UK mortgages, Precise Mortgage Funding No1, attracted strong demand from investors. The borrower plans to use the RMBS market regularly.
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Three month mortgage arrears in Dutch RMBS transactions crept upwards again to the end of the third quarter, according to Fitch Ratings. But further rises could be mitigated by new servicing measures being introduced in the Netherlands that are akin to the UK's more interventionist ones.