RMBS

The final scope of regulations governing securitization in Europe will shape the future of the industry, according to a report released today by Standard & Poor’s.

Shellpoint said it made the decision based on the “substantial pricing disconnect” between the whole loan and new issue RMBS secondary markets.

How the U.S. Mortgage Agencies Will Handle the Next Federal Government Shutdown

Shellpoint, the home lender founded by mortgage-bond pioneer Lewis Ranieri, removed loans made to foreign nationals from its RMBS deal dubbed Shellpoint Asset Funding Trust 2013-2.

F. Van Lanschot Bankiers is working on a new prime Dutch RMBS issue, Lunet RMBS 2013-I, according to a Standard & Poor’s presale report.

Fannie Mae priced its inaugural issue of $675 million of bonds transferring the credit risk on mortgages that it insures.

Standard & Poor’s is considering criteria changes that would make it more difficult for a structured finance transactions to earn a rating above the "sovereign ceiling," or the rating of the nation in which it is domiciled. The proposed criteria would cut the maximum ratings differential to four notches from the current six, in most cases.

A bipartisan group of 66 members of the House of Representatives are letting the Federal Housing Finance Agency know they don’t want to see the loan limits on Fannie Mae and Freddie Mac reduced.

Mortgage experts said at the California Association of Realtors sponsored conference, that the future of mortgage finance will depend on a model that still includes a government guarantee.