SFIG 2019 Day 1
A Sunday panel on the Property Assessed Clean Energy (PACE) market agreed that 2018 was an “eventful year” for both residential and commercial PACE, and though speakers said they had observed an increased appetite for private placements as well as larger deals across the sector, some policy headwinds persist.
With the launch of the uniform MBS just months away, the merger of the markets for Fannie Mae and Freddie Mac securities – worth a combined estimated $3.7tr – is imminent, though hurdles remain before the ‘single security’ goes live and investors lose the ability to buy a specific GSE's bonds in the TBA market.
After the CLO market ground to a halt in December following a retail fund-driven loan market selloff, the primary market has at last sprung back to life, albeit with wider spreads than some issuers grew accustomed to for much of 2018 and with more varying deal structures to get investors in the door.
The number of registered attendees for this year’s SFIG Vegas conference has jumped 10% compared to last year, as the organization looks guide US securitization participants through a rapidly shifting, late cycle market landscape.
Publisher: Oliver Hawkins
Telephone: +44(0)20 7779 7304
Commercial director of events: Daniel Elton
Telephone: +44 (0)20 7779 7305
Publisher, special projects: Ashley Hofmann
Telephone: +44 (0)20 7779 8740