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Barclays Capital priced its first, new-issuance of residential mortgage-backed securities in four years, Gracechurch U.K. RMBS 11-1, with one of the large, dollar-denominated tranches upsizing before the deal priced Thursday.
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Barclays Bank was back in the RMBS market after a four year absence on Thursday, with Gracechurch Mortgage Funding 2011-1, a trade that was at least £2.3bn equivalent as EuroWeek went to press, despite grim market conditions during the marketing process.
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Investec Capital Markets and Barclays Capital, joint leads on Gemgarto 2011-1, have had investor meetings postponed in the wake of market volatility.
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Details on Barclays Capital’s first new issue of residential mortgage-backed securities in four years, Gracechurch U.K. RMBS 11-1, emerged Thursday.
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Investec Capital Markets and Barclays Capital, joint leads on Gemgarto 2011-1, have had investor meetings postponed in the wake of market volatility.
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Applications to refinance government-backed mortgages increased by at least 12% over the past week, amid a further 11 basis points drop in interest rates to 4.08%, according to Morgan Stanley analysts.
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UBS and Citigroup are said to be teaming up to offer $750 million in commercial mortgage-backed securities, as early as next month.
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Ally Financial is said to be considering filing for bankruptcy protection for its Residential Capital unit as a way of limiting its exposure to the troubled mortgage lender.
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Goldman Sachs says it is facing lawsuits involving $15.8 billion in mortgage-backed securities, a thirtyfold jump from its estimate of $485 million just three months ago.