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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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Leads HSBC and Bank of America Merrill Lynch have gone out with guidance for Allied Irish Bank UK’s first public RMBS, Tenterden Funding, giving investors a spread pick-up over recent UK prime deals.
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Hedge fund D.E. Shaw is launching the Alkali Fund in July, which will invest in residential mortgage-backed securities, consumer asset-backed debt, toxic loans, including European loans, among other instruments. .
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The Federal Reserve Bank of Boston had praise for mortgage-backed securities during the financial crisis, saying, compared with most investments, they were “highly transparent and their issuers willingly provided a great deal of information to potential purchasers.”
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David Stevens, president and ceo, of the Mortgage Bankers Association, has called on Fannie Mae and Freddie Mae to develop mortgage-backed securities common to both as a way of increasing liquidity.
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Broker-dealer firm The PrinceRidge Group has added five directors to sales and trading positions to its mortgage-backed securities division; part of a recent expansion of the group led by senior managing director and head of U.S. residential mortgage-backed securities Barry Berkeley, who joined the firm from Sterne Agee & Leach in January.
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Rising default rates on automobile loans are driving Brazilian banks to cut back on lending.
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Ginnie Mae has ordered issuers of its mortgage-backed securities to make four additional pieces of data available to investors beginning in September.
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A lack of confidence in the models credit ratings agencies use to assess residential mortgage-backed securities and in the agencies themselves is stifling the U.S. housing recovery, according to Reason Foundation.
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American International Group invested $7.4 billion in the first quarter, including a 15% allocation to non-agency residential mortgage-backed securities.