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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Countrywide Financial has filed a motion with a federal district court in Texas to put on hold a mortgage-backed securities lawsuit filed by the Federal Deposit Insurance Corp. as receiver for the defunct Houston-based Franklin Bank.
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Clydesdale Bank could relaunch its postponed U.K. residential mortgage-backed issue from its Lanark Master Trust in early February following several structural changes to the transaction.
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Preliminary terms for Santander UK’s Holmes 2012-1 RMBS, the first European ABS of the year, include a $500m max 2a7 tranche, as well as three and five year scheduled amortisation tranches.
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Santander U.K. has a new issue of residential mortgage-backed securities from its Holmes program in the works, a deal set to be the first U.K. RMBS of the year.
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Banks in peripheral Europe could launch more discounted tender offers for bonds in outstanding securitizations this year as a way of raising capital.
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Issuers remain hopeful that improved loan level data could spur more investors to buy U.K. securitization bonds in 2012, despite recent warnings by market participants that this alone may not rebuild buyer confidence.
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Banco BPI launched a tender offer for RMBS in the Douro series on Thursday — a move that will be watched closely by other Portuguese banks looking for capital.
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Two schemes to improve ABS market liquidity are set for action in the year ahead — the PCS initiative and the Phoenix trading platform.
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Delinquencies of loans in U.S. commercial mortgage-backed securities could hit 10% in 2012, though it is likelier they will land 50 basis points on either side of that percentage, according to Fitch Ratings.