RMBS

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.

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.

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.

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

Progress Residential plans to tap the securitization market with a deal backed by a $438 million, five-year loan that pays only on interest, which is secured on a pool of 3,317 single-family rental homes.

Irish financial services company, Dilosk Limited, is marketing €206 million of securities backed by Irish residential mortgages, the issuer's debut RMBS.