Latest news
Latest news
As well as deals backed by new loans, it will call and refinance 2023 deals
Meanwhile, BNP Paribas hires in structured finance
Aspire's first deal is a $391.28m non-prime securitization
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Downgrades on peripheral European countries’ credit ratings are making it more expensive for banks to hold peripheral asset-backed securities paper, according to a senior London-based ABS trader, but a lack of liquidity is making it tough to offload.
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Standalone structures in UK RMBS have been gaining ground, and could continue to rise in popularity, according to Standard & Poor’s.
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Nationwide Building Society has proposed restructuring its Silverstone master trust, which could pave the way for a return to market this autumn — its third issue since 2008.
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Invesco Mortgage Capital has announced a public offering of 20 million shares of common stock priced at $18.37 a share to raise roughly $367.4 million for the purpose of acquiring additional residential and commercial mortgage-backed securities.
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Investment in residential mortgage-backed securities in Chicago could be hindered by a local ordinance that includes lenders and financial firms in its definition of “property owners,” according to Moody’s Investors Service.
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U.K. lender Nationwide Building Society is modifying its residential mortgage-backed securities master trust, Silverstone, which market officials in London say will pave the way for a new issuance from the program shortly.
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Rating agencies are insisting that third-party mortgage servicers have back up arrangements to service residential mortgage-backed securitizations in the event the primary servicer is unable to.
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Asset manager Van Eck Global has launched its Market Vectors Mortgage Real Estate Investment Trust Income Exchange-Traded Fund, focusing on mortgage REITs.
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Ally Securities is building up its presence in collateralized mortgage obligations, hiring away trader Bruce Graham from BNP Paribas and structurer Chris O’Bara from Normura Securities.