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RMBS

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  • FIG
    Standard & Poor’s has downgraded all the subordinated notes issued out of the "socialist" funding vehicle of Northern Rock’s Granite mortgage master trust and placed the subordinated notes of its Provide Graphite synthetic RMBS on review for downgrade.
  • FIG
    Hopes of government support for securitisation in Germany took a knock this week as the two most senior finance officials insisted the private sector should be able to finance SME securitisations on its own.
  • FIG
    The rebirth of European structured finance continued this week with the first publicly marketed Spanish securitisation since the start of the crisis and a second Dutch RMBS.
  • FIG
    Delta Lloyd reopened the Dutch mortgage securitisation market this week with the successful placement of its Eu904.5m Arena 2009-1 issue.
  • FIG
    Investors swarmed over the first public Dutch RMBS since the start of the credit crisis, opening up another jurisdiction for securitisation. But the haste with which Arena 2009-1 was marketed raises questions about how thoroughly investors are examining new deals.
  • FIG
    Natixis, Rabobank and Royal Bank of Scotland are marketing the first public Dutch RMBS since the start of the credit crisis.
  • FIG
    Two US states are suing the three largest rating agencies for misleading ratings on subprime RMBS as the SEC adopts new rules to promote competition and increase transparency in the market.
  • FIG
    An Eu823m bid list circulated by the Bundesbank faces a challenging reception in the ABS market as investors begin to close their books for the year. Before its collapse, Lehman Brothers is believed to have used the bonds as repo collateral with the European Central Bank.
  • FIG
    Crédit Logement, the French mortgage insurer, will not call two of its synthetic securitisations at their first optional redemption dates.