Managers and arrangers of U.S. collateral loan obligations have struggled to satisfy the European Unions risk retention requirement. However, the final draft rules published by the European Banking Authority include a new concession that may assist U.S. managers in accessing an investor base in the region.
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Three commercial mortgage securitizations totaling $3.5 billion priced this week, ending a lull in issuance that began at the end of March.
April 30 -
S&P has rated $260 million of class A notes offered under the capital structure A+. The $17.5 million class B notes are rated BBB. The LTV on all the series is 70%.
April 29 -
Freddie Mac is marketing $1.2 billion of structured pass-through certificates that are backed by fixed-rate multifamily mortgages with a seven-year term.
April 29 -
Residential mortgage bonds backed by qualified mortgages, as well as non-qualified mortgages, are no doubt on the drawing board if not in the works, as issuers run out of earlier loans to securitize; however experts diverge on the composition of the first deals.
April 29
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The $780 million deal, Ford Credit Owner Trust 2014-REV1, will be placed with qualified institutional investors via the Rule 144A market.
April 29
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The Senate Banking Committee will delay a vote on its highly anticipated legislation to overhaul the housing finance market, a Senate aide confirmed Tuesday morning, just hours before the markup was scheduled to begin.
April 29 -
Bayview Asset Management plans to issue $185 million of bonds secured by a pool of non-conforming residential mortgage loans, according to a Standard & Poors presale report.
April 28 -
The triple-A rated notes issued from the sponsor's Discover Card Execution Note Trust are being talked in the swaps plus 25 basis point area.
April 28 -
Under the proposed changes, credit enhancement levels for securitizations backed by credit card receivables and revolving consumer loans will more explicitly incorporate the effects of a sponsor default.
April 28 -
The recent lull in issuance of private label commercial mortgage bonds has helped new issue CMBS spreads retrace much of the (modest) widening seen earlier in April, according to research published by J.P Morgan.
April 28 -
The deal, Moorgate Funding 2014-1, will offer £510 million ($858 million) of notes backed by first-lien, U.K. non-conforming residential mortgages owned by Kilimanjaro AM.
April 28
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Allstate Insurance is preparing an as-yet unsized catastrophe bond; The deal is designed to transfer the risk of outsized insurance claims for losses from named storms in 30 states and earthquakes, including resulting fires, in California, New York, and Washington.
April 25
