Extraordinary expenses in RMBS transactions could either expose senior RMBS bondholders to losses or the structure to ratings volatility, depending on how they are paid, according to a Kroll Bond Rating Agency report.
- Europe
The Dutch State Treasury, on Wednesday, sold $5.1 billion of non-agency RMBS held in the ING illiquid assets back-up facility to 5 dealers.
December 12 -
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At one point during the budget negotiations, it appeared a hike in g-fees was on the table until Senate Banking Committee leaders got wind of it and raised objections.
December 11 -
JP Morgan, Deutsche Bank, Morgan Stanley and Wells Fargo priced a $1.2 billion CMBS that is backed by the Aventura Mall located in Aventura, Fl.
December 11 -
Price guidance has been issued for Social Finances first peer-to-peer lending securitization deal.
December 11
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Spirit, the Scottsdale, Ariz. triple-net lease REIT, is preparing a $330 million commercial net lease mortgage-backed securitization.
December 11 -
Issuers had engaged Standard & Poors to rate 32 collateralized loan obligations totaling $14.8 billion as of Nov. 29.
December 11 -
The Federal Housing Finance Agency ordered Fannie Mae and Freddie Mac to increase charges known as guarantee fees, or g-fees, that are embedded in the cost of home loans to protect investors from losses.
December 11 -
Chase Bank priced an upsized offering of $750 million of bonds backed by credit card receivables from its Chase Issuance Trust.
December 11 -
Exempt from the rule's definition of "covered funds" are foreign public funds, wholly owned subsidiaries, loan securitizations, qualifying asset-backed commercial paper conduits, and qualifying covered bonds.
December 11 -
Citigroup looks poised to make another run at selling OneMain; future funding could come from securitization of consumer loans.
December 10 -
Chase Bank returns to market with another $500 million credit card receivables securitization from its Chase Issuance Trust.
December 10