Latest news
Latest news
Two lenders entering administration should signal to others: simplify the industry
News could lead bank funding to dry up, after strong run of demand in private market
L&G's head of portfolio management on everything equity release after debut deal
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U.K. lender Skipton Building Society is preparing a follow-up foray into the residential mortgage securitization market with Darrowby No. 2, just as more U.K. building societies price their debut transactions in the market.
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Nomura has now teamed up with Bank of America and Morgan Stanley, which are said to be considering repackaging some $1.5 billion of collateralized debt obligations into a AAA-rated tranche as a re-remic, if it holds the winning bid for CDOs from the Federal Reserve’s Maiden Lane portfolio.
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Trading of commercial mortgage-backed securities has slowed over the past week ahead of a sale of collateralized debt obligations originated by American International Group by the Federal Reserve’s Maiden Lane III portfolio.
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Fitch Ratings commented on the announcement by Infonavit, Mexico’s state lender, will begin originating fixed-rate mortgage in June that peso-denominated residential mortgage-backed securities could follow within six to 18 months.
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Christy Romero, the new inspector general for the government’s Troubled Asset Relief Program, has denied claims by the Obama administration that TARP would turn a profit, but rather more than 350 small banks with an estimated $15 billion in outstanding loans would have a hard time repaying them.
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Bookrunners on Aegon’s debut 144a RMBS, Saecure 11, have gone out with guidance of Libor plus 160bp-165bp area for the dollar tranche, and will look to price the deal on either Wednesday or Thursday.
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Option One Mortgage Corp. has agreed to pay $28.2 million to the U.S. Securities and Exchange Commission to settle charges that the H&R Block unit failed to disclose its deteriorating financial condition to potential investors in subprime residential mortgage-backed securities.
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The U.S. Securities and Exchange Commission has filed charges against Egan-Jones Ratings and Sean Egan, its president, for alleged misrepresentations and omissions in its application to be certified a nationally recognized statistical rating organization for issuers of asset-backed securities and government securities.
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Industry pros in London say expensive basis swap costs could be a concern down the line for certain U.K. asset-backed securities and residential mortgage-backed securities issuers looking to offer paper in euros.