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RMBS

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  • Freddie Mac’s second risk-sharing transaction, STACR 2013-DN2, priced late Tuesday with investors oversubscribing the bonds multiple times, according to a person involved with the transaction.
  • Blackstone’s Invitation Homes priced the first ever U.S. securitization of single family rental homes, with investors piling into the deal and sending pricing spreads on all tranches tight of guidance.
  • At least 10 deals this week are marketing or expected to price soon, totaling $4.94 billion in asset-backed securities and $1.64 residential mortgage-backed deals, in the third straight week U.S. deal flow of ABS and RMBS has remained above $4 billion.
  • Brian Bowes has joined StormHarbour Partners after three years at KGS-Alpha Capital Markets, where he led non-agency mortgage trading for CEO Levent Kahraman.
  • Bookrunners on Blackstone’s $479.14 million securitization of rental homes are looking to price the transaction sometime this week, according to an announcement viewed by SI.
  • ING and the Dutch government have agreed to unwind a facility put together in 2009 to protect the bank from risks in its then-EUR24 billion ($32.4 billion) portfolio of U.S. Alt-A mortgage-backed securities.
  • The structures of future Dutch residential mortgage-backed securities are likely to evolve in response to the Dutch government’s overhaul of its Nationale Hypotheek Garantie scheme.
  • The structures of future Dutch residential mortgage-backed securities are likely to evolve in response to the Dutch government’s overhaul of its Nationale Hypotheek Garantie scheme.
  • ING and the Dutch government have agreed to unwind a facility put together in 2009 to protect the bank from risks in its then €24bn portfolio of US Alt-A mortgage-backed securities. The state will be left holding around €6bn of Alt-A securities that it plans to sell in the market over the next year, potentially at a €400m profit.