Latest news
Latest news
Timeline of collapse that rocked the UK bridging loan market
As well as deals backed by new loans, it will call and refinance 2023 deals
Meanwhile, BNP Paribas hires in structured finance
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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.
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Paragon Mortgage will issue a new securitization of U.K. buy-to-let residential mortgages during the third quarter, likely sized at around £200 million ($322 million), John Harvey, head of structured finance, confirmed to TS.
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Credit Suisse is aiming for the next batch of National Credit Union Administration’s re-securitized legacy bonds, looking to compete with Barclays Capital for the rights to structure and market the $15 billion portfolio, according to an official close to the issue.
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Trustees administering residential mortgage securities could demand changes to securitization documentation if investigations from the New York and Delaware state’s attorneys-general lead to litigation, according to market participants.
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Asset manager Stone Tower Capital will be taking the remaining scraps from its structured investment vehicle, Axon Financial Funding, to public auction June 30 in its second attempt to liquidate the structure since its 2007 default.
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National regulators may reduce the extra capital requirement for the world’s largest banks from a proposed 3% to only 2% to 2.5%.
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Yorkshire Building Society has debuted it first securitization, a residential mortgage-backed securitization worth £750 million ($1.22 billion).
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Shellpoint Partners wants to originate residential loans on behalf of high-quality borrowers that don’t conform to agency guidelines, with an eye to launching at least one securitization this year, according to Bruce Williams, ceo.
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Wall Street is full to capacity and can’t take on much more subprime residential mortgage securitization risk, according to a senior analyst at a major investment bank, noting the poor results from Thursday’s Maiden Lane II auction.