Latest news
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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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The American Securitization Forum released a model on Tuesday that aims to resolve the reps and warranties storm around the US RMBS market and head off incoming risk retention rules.
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Residential mortgage-backed securities investors were confused a day after the Federal Deposit Insurance Corporation lodged new papers in federal court related to the $8.5 billion Bank of America put-back settlement.
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The American Securitization Forum is out with its model repurchase proposal, which Executive Director Tom Deutsch says is a more tailored solution to the issue of “skin in the game” proposed by rule makers.
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Europe’s securitization market has seen a hike in the diversity of types of assets placed with investors, according to a new report from the Association for Financial Markets in Europe that will be released tomorrow.
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Servicers of residential mortgage-backed securities will be on the hook for more costs associated with troubled legacy deals after the city council of Springfield, Mass., last week held that securitization trusts are liable for the upkeep of homes in foreclosure.
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Industry officials are raising their objection to section 939F of the Dodd-Frank Act, a controversial provision sponsored by Senator Al Franken (D-Minn.), which proposed a third-party board to parcel out new deals among the rating agencies, as well as a two-year study to investigate the ratings process.
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Talk of a new and aggressive home refinancing plan coming from the Obama administration has led to volatility in the agency residential mortgage-backed securities market.
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Citadel Securities’ move to shutter its fixed-income sales and trading operations will put in play another band of market pros just as larger firms are laying off.
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Fears are growing that the return of RMBS in the autumn could be hampered by wide senior spreads. The iTraxx senior financials index touched all-time wides this week, and sat at 245bp on Thursday, although spreads in senior notes of core RMBS moved very little.