Finance

As negotiations between Greece and its official creditors drag on, more and more Greek homeowners are falling behind on their payments as well, according to Fitch Ratings.

Macquarie Bank and Bank of America Merrill Lynch are marketing a €197.7 million ($220.5 million) pool of German residential mortgage securities.

Paragon Mortgages is marketing bonds backed by a pool of buy-to-let mortgages worth £130 million ($204 million) in its second securitization of the year, according to Moody's Investor Service

Charter Court Financial Services (CCFS), operating under its trading name of Precise Mortgages, plans to issue £224.75 million ($352.38 million) of securities backed entirely by buy-to-let residential mortgage loans, according to a presale report from Moody’s Investor Service.

If you want to know what a Greek exit from the euro would do to the €16.64 billion ($18.54 billion) of bonds out there backed by Greek assets, start with Argentina.

Velocity Commercial Capital is marketing a securitization that pool mostly single family rentals.

Volkswagen Bank GmbH plans to sell €1.25 billion ($1.42 billion) of bonds backed by German auto loan receivables.

U.S. consumers are increasingly using their credit cards rather than tapping home-equity credit lines to pay debts or finance a big purchase, according to Sanford C. Bernstein.

Banco Santander is preparing another securitization of high leveraged, prime residential, Spanish mortgage loans to be issued from its Fondo de Titulizacion de Activos trust.

Bank of America scored a legal victory this week for all holders of second liens when the Supreme Court ruled that bankruptcy courts cannot void a second mortgage because it exceeds the value of the home.

Progress Residential priced its latest single family rental securitization tighter than the issuer’s previous deal and the most recent single family rental, Colony American Homes 2015-1, which priced last week.

Athlon Car Lease Nederland plans to securitize €713 million ($793 million) worth of car leases made to Dutch based corporate and small business borrowers.

The Supreme Court has ruled that bankruptcy courts cannot void a second lien because it exceeds the value of the collateral.

Two recent transactions, one Irish and one Spanish, tested investor appetite for peripheral RMBS. The results suggests there aren’t likely to be many more.

Lease expirations are up in collateral pools backing single family rental securitization and that could lead to higher vacancies and potentially lower cashflows.

Union de Creditos Inmobiliarios (UCI) is planning what will be the first investor-placed Spanish residential mortgage securitization since BBVAR 3 in July 2007.