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
More articles
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Rising mortgage rates and increased fees to borrowers tapping the Federal Housing Administration for residential mortgage loans have dealt a significant blow to new loan applications—with the FHA seeing a 25.8% drop in May from the previous month.
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More European banks could follow Unicredit’s lead in offloading loan portfolios via the securitization market to boost capital ratios, according to London-based analysts.
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Achmea Hypotheekbank is planning to bring its second residential mortgage-backed securities issue in seven months.
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BNP Paribas today priced its €1.5 billion ($2.15 billion) Dutch residential mortgage-backed deal, Phedina Hypotheken 2011-1, the first trade from the program to be placed with investors.
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Deutsche Bank and Natixis have been mandated for Achmea Hypotheekbank’s new Dutch RMBS, Dutch Mortgage Portfolio Loans IX (DMPL IX), as BNP Paribas’s Phedina is set to be priced.
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BNP Paribas’s Dutch RMBS, Phedina 2011-1, was fully covered at Friday’s guidance of 90bp-95bp for the two year ‘A1’ tranche and 130bp-135bp for the five year ‘A2’ tranche, with more orders in on Monday morning.
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A recent New York Supreme Court decision calls into question how mortgages are transferred and reported in securitizations and could have sweeping implications for mortgage foreclosure timelines, according to lawyers and market players.
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The National Credit Union Administration said it has completed its sale of legacy collateral it took on during the crash and isn’t planning anymore future sales, dashing banks’ hopes that there might be another $15 billion of legacy securitizations waiting on the administration’s balance sheet.
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Northern Rock’s newly rebooted securitization program is not expected to be affected by the planned reprivatization of the government-owned bank, according to London-based market professionals.