Latest news
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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Demand for floating-rate covered bonds is growing in Europe, as investors look to the asset class for an alternative to the U.K. and Dutch residential mortgage-backed securities that have dominated new issuance since the restart of the RMBS market.
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Prudential Insurance in the US priced a $1bn structured bond that is secured on a pool of legacy subprime US RMBS, but which also benefits from a guarantee from the insurance company. The structure is intriguing and could mark the creation of a new product that sits between the covered bond and RMBS formats.
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A New York State Supreme Court justice has dismissed a lawsuit by Walnut Place and other related entities against Bank of America’s Countrywide Financial unit for allegedly misrepresenting the loans linked to mortgage-backed securities, calling the action premature.
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A New York State Supreme Court justice has dismissed a lawsuit by Walnut Place and other related entities against Bank of America’s Countrywide Financial unit for allegedly misrepresenting the loans linked to mortgage-backed securities, calling the action premature.
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New issuance volume in the European securitization market is set to total about EUR50 billion ($66.3 billion) for the first quarter, market officials told SI this week.
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Redwood Trust raised $322 million in its latest sale of private residential mortgage-backed securities, only the fifth such deal by a non-governmental entity since the beginning of the financial crisis in 2008.
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The New York Supreme Court has dismissed German bank HSH Nordbank’s lawsuit against UBS for what it claims are “near-total” losses on a $500 million collateralized debt obligation it purchased from the Swiss bank in 2002.
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The whole loan residential mortgage market stands to benefit from a potential transfer of liquidity from the securitization sector, where “absurdly high” Solvency II capital charges could push insurance investors away from residential mortgage-backed securities, according to London-based analysts.
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The Bank of England’s Financial Policy Committee, charged with ensuring financial stability, has warned that “[European Union] law or regulatory or technical standards” could constrain its ability to act.