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
More articles
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U.K. AAA-rated prime residential mortgage-backed securities generated 0.30% returns in the third quarter, outflanking other assets except for government bonds, while other asset-backed securities indices in Europe fell, according to Henderson Global Investors.
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Investor pools in European securitizations are slimming down as larger buyers increasingly scoop up bigger parcels of deals.
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Residential mortgage-backed securities rank first among structured-finance products downgraded in North America in the third quarter by Fitch Ratings but the number dropped sharply from the preceding three months.
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A new mortgage plan being kicked around between big banks and regulators left ABS East attendees with plenty of questions.
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Panelists hotly debated principal reduction at the ABS East Alternative Loan Modification Programs for Distressed and Non-Performing Loans panel, with some saying reducing mortgages is the path to borrower success, and others countering that the mod makes for moral hazard and a hit for investors to absorb.
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Splitting the government-sponsored enterprises into old and new companies, with the “old cos” holding legacy mortgage loans backed by a government guarantee and the “new cos” originating loans without government backing, is the first step to giving the mortgage-backed securities market a fresh start, said James Lockhart, vice chairman at WL Ross & Co., in Monday’s keynote address at ABS East. -
ING Groep is considering entry into the European mortgage-backed securities market for the first time, according to Martin Nijboer, head of long-term funding at the Dutch bank.
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Primary issuance of asset-backed securities in Europe could be set to take a breather until November, following the recent spike in new issue trades in the past two weeks.
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Moody’s Investors Service said today it is reviewing 82 tranches of 27 U.K. non-conforming residential mortgage-backed securities deals, as well as two tranches of one consumer asset-backed deal, due to their connections to the Skipton Building Society.
