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Investors able to cherry pick deals from wide variety
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The Dutch Securitisation Association, formed to develop a voluntary standard for Dutch securitizations to boost transparency and reduce deal complexity, was formally launched Tuesday, and will qualify for the recently launched Prime Collateralized Securities label as a national “domestic market guideline.”
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John Carroll, head of residential mortgage-backed securities at UBS, has left his post, according to an official at the Swiss bank.
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A weekly roundup of securitization sectors with year-to-date totals in ABS, CMBS, RMBS and CLOs in the US and Europe. -
Aegon Levensverzekering N.V. returned to the residential mortgage-backed market Monday with Saecure 12, a securitization of Dutch home loans.
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Europe’s primary securitization market has seen a steady flow of new trades since the start of November, but the secondary market looks set to continue to be starved of paper until the year-end.
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Aegon is marketing a dual tranche Saecure 12 RMBS in euros. The deal will be its second this year from the programme, after it made its dollar 144a debut with Saecure 11.
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Vericrest Financial’s most recent residential mortgage-backed securities deal, VOLT 2012-NPL3, features changes from the programmatic RMBS issuer’s previous deals.
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NIBC Bank’s Sound I B.V. and Sound II B.V. Dutch residential mortgage securitizations will not see any immediate change in ratings following the replacement of the Royal Bank of Scotland and NIBC by Bank Nederlandse Gemeenten as liquidity facility provider, according to Moody’s Investors Service.
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Bank of Queensland is rolling out an AUD500 million ($516.7 million) Australian residential mortgage securitization that includes a sterling-denominated tranche—repeating a similar sterling play in an Aussie auto ABS launched earlier this year.
