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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Ulster Bank, the retail mortgage subsidiary of the Royal Bank of Scotland, has opted not to call the bonds from its Celtic residential mortgage-backed program.
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Option adjustable rate mortgage-backed securities have become popular again after they were held up during the financial crisis as an example of what is wrong with mortgage practices.
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Spain’s Santander is close to deal to sell a EUR700 million ($927.8 million) portfolio of foreclosed properties to Morgan Stanley, according to the Spanish newspaper Expansion.
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UBS is said to be planning to issue contingent capital bonds to help raise capital to meet higher core Tier 1 capital standards, following the example of Credit Suisse and Rabobank.
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The ratings of roughly 80% Italian residential mortgage-backed securities are expected to be unaffected by severe stress, according to Fitch Ratings.
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CataluynaCaixa got €1.021bn of instructions for the 34 ABS tranches it tendered for at the beginning of February, but accepted just €215m for purchase, alongside €336m for two covered bond tranches.
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Moody’s Investors Service says the $25 billion settlement between government officials and five major lenders over mortgage practices is a credit negative for the banks.
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The settlement between government officials and five major lenders has caused concern among investors in residential mortgage-backed securities that they may end up paying for the banks’ mistakes.
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U.S. Bank Global Corporate Trust Services named senior v.p. Tom Cubitt head of European corporate trust business in London.