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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
More articles
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ING Groep, the largest Dutch financial services company, is eyeing a debut residential mortgage-backed security offering for the European market in 2012.
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Buying up non-performing mortgages is more attractive now than ever before, according to Tom Capasse, principal at Waterfall Asset Management.
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As we write, parties with an interest in the proposed $8.5 billion Bank of America residential mortgage-backed securities (RMBS) representation and warranty settlement are in the midst of motion practice, jurisdictional challenges and settlement negotiations.
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The Federal Reserve’s new Operation Twist is supposed to “twist” the yield curve, but an image of the Mad Men-era central bankers twistin’ the night away isn’t too far off base. -
BNP Paribas has structured two French RMBS deals totalling €1.61bn, which will be retained — suggesting the bank is building up its reserves of top-rated collateral. The French bank retained few ABS or covered bonds between 2007 and this year, with only one senior deal kept on the books, Phedina 2010.
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Nationwide pulled off the first fully public ABS deal since the re-eruption of the sovereign crisis, bagging $3.58bn equivalent from its Silverstone 2011-1 issue. The deal could spell an end to the spate of private placements and club deals that have characterised the market since July, but questions remain over the depth of demand in sterling and euros, after Nationwide placed 90% of the deal in dollars.
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DBRS is seeking comment on its proposed loss model and rating methodology for U.S. residential mortgage-backed securities.
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The Conference of State Bank Supervisors, American Association of Mortgage Regulators and National Association of Consumer Credit Administrators have provided mortgage examiners with guidelines for determining whether non-banks licensed by state are complying with the Federal Reserve’s rules for loan-origination compensation.
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The U.S Financial Stability Oversight Council has proposed a threshold for determining if a non-bank is systemically important and requires additional oversight.
