Fitch, in a press release today, stated that while the recovering U.S. housing market and macro stability are bolstering remnant U.S. RMBS performance lately, persistent challenges remain for the sector to overcome. Fitch said that because pre-crisis RMBS transactions are still facing challenges, rating improvement will remain limited in the near term and it only expects future upgrades to come to RMBS classes with relatively short remaining lives within sequential payment priority transactions.
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As refinancing volumes plummet, lenders are trying to extend the home financing boom by pitching adjustable-rate mortgages to borrowers, harkening back to the pre-crisis boom years.
August 20 -
Kroll Bond Ratings Agency said to expect more of the aggressive growth the market has seen since the liquidity crisis but also an increase in defaults and losses on the back of a rising rate environment.
August 20 -
Cabela's priced $350 million of credit card ABS, upsized from $291 million.
August 20 -
A collateralized loan obligation (CLO) is in works from collateral manager West Gate Horizons Advisors for $366.65 million, according to Standard & Poor’s.
August 19 -
Cash balances for U.S. 2.0 collateralized loan obligations and for European CLOs have climbed in 2013, according to Thomson Reuters.
August 19
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Barclays has hired Adrian Radulescu to join its U.S. credit structuring team this month as a director, according to market sources.
August 19 -
Jumbo securitization is just one of many key financing strategies the hybrid real estate investment trust Two Harbors Investment Corp. is turning to as the government reduces its MBS footprint.
August 19 -
NorthStar Realty Finance Corp. has priced a collateralized debt obligation backed by commercial real estate; only it's not calling the transaction a CRE-CDO.
August 16 -
CLO issuance fell dramatically in July to $3 billion, the lowest level seen since July 2012 at $2.2 billion.
August 16 -
Servicing of non-agency residental mortgage backed securities continued to shift from banks in to the hands of non-banks in the second quarter of 2013 and this trend will continue.
August 16 -
Aashish Marfatia joins Prosiris Capital Management’s non-agency residential mortgage trading desk, according to a company press release.
August 15 -
The 9.85-years, super-senior A-5 tranche from the Goldman Sachs, Jefferies and Citigroup $1.2 billion conduit priced five basis points wide of guidance at 105 basis points over swaps.
August 15