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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Longer liquidation times lines and falling home prices have led to a worsening of loss severities of subprime residential mortgage-backed securities to 76%, according to Fitch Ratings.
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There is growing concern that the quality of the commercial mortgage-backed securities coming to the market is declining amid the industry’s revival.
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Price guidance on Lloyds Banking Group’s Headingley 2011-1 residential mortgage-backed deal emerged this afternoon.
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Northern Rock is shopping its first public residential mortgage-backed deal since the financial crisis. The issue is being hailed as a major boost to Europe’s securitization sector, but some London-based investors reckon it could prove tricky to tempt some buyers, noting bonds in Northern Rock’s Granite RMBS may yet offer better yields.
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U.S. regulators are expected to miss the April 18 target date, set under the Dodd-Frank Wall Street Reform Act, for overhauls to the lending market that includes risk retention rules for mortgages and securitizations.
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Citigroup is said to be preparing an issue of residential mortgage-backed securities denominated in Australian dollars.
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Deutsche Bank, JP Morgan and Royal Bank of Scotland will sell Northern Rock’s first public post-crisis securitisation, a £1.5bn prime RMBS. The deal will be issued through Gosforth Funding 2011-1, which will be a standalone static pool deal.
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The U.S. Department of the Treasury plans to start selling off its $142 billion portfolio of agency residential mortgage-backed securities, with the first batch of $10 billion expected this month.
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Smaller players in the U.K. and European mortgage sector, such as retail banks and building societies, are being tipped to contribute to a healthy flow of residential mortgage-backed securities issuance this year.