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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The ABS market was bidding on two large BWICs on Thursday for around Eu1.2bn equivalent, testing appetite for higher yielding assets and taking trader attention off the thin volumes of the past two weeks.
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Santander UK’s new Fosse 2011-1 RMBS will feature only three year public tranches, alongside a preplaced $500m ‘A1’ money market tranche. The bank will offer 2.72 year average life notes in dollars, euros and sterling, in classes A2-A4, with step-up and call in July 2014.
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Yield-hungry U.S.-based investors are being courted by European issuers to buy new residential and commercial mortgage-backed securities deals.
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Santander UK’s new Fosse 2011-1 RMBS will only feature three year public tranches, alongside a preplaced $500m money market tranche.
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American Home Mortgage Servicing’s $1.45 billion advanced trust residential mortgage-backed securitization, AHM SART 2011-1, closed Tuesday, according to two bankers with knowledge of the transaction. Deutsche Bank structured the private,144a transaction, which comprised a revolving pool of receivables on advances made on mostly subprime loans. The collateral will be culled from 157 RMBS trusts serviced by AHM.
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Sheila Bair has announced she will step down as chairman of the Federal Deposit Insurance Corp. July 8 after five years.
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Some of the largest investors of residential mortgage-backed securities originated by Option One Mortgage are pressing the firm to buy back loans they claim were improperly originated or documented and sold into securitization trusts.
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American International Group has purchased about 50% of the legacy bonds sold by the Federal Reserve Bank of New York from Maiden Lane II since February.
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Broker-dealer MF Global Holdings has added three new sales recruits to its securities team in the advent of a four-fold expansion as it builds up its mortgage- and asset-backed securities team.