Edition:
United States

Adam Tempkin

ABS primary supply slows into quarter-end

Mar 24 2014

NEW YORK, March 24 (IFR) - ABS dealer offering levels were mostly unchanged on Monday across all asset classes, as the primary market remained quiet before the quarter-end.

Redwood returns despite bank bid

Mar 21 2014

NEW YORK, March 21 (IFR) - The sway of better economics of whole-loan mortgage sales may still not be a strong enough reason to keep originators away from the US private-label securitisation market, which has suffered this year from a lack of issuance.

Colony Capital markets industry's second-ever REO-to-rental bond

Mar 19 2014

NEW YORK, March 19 (IFR) - Colony Capital on Wednesday began marketing the second-ever bond based on rental income from foreclosed US properties bought up after the financial crisis and now rented to single families.

End of Fannie, Freddie would mean RMBS comeback

Mar 13 2014

NEW YORK, March 13 (IFR) - The Senate Banking Committee's agreement on winding down Fannie Mae and Freddie Mac, the country's biggest mortgage financiers, brings the US government's plan to end its dominance of the housing finance market a step closer to reality.

Market awaits Freddie Mac's USD1.15bn RMBS bid list

Mar 11 2014

NEW YORK, March 11 (IFR) - Freddie Mac is preparing to sell USD1.15bn of legacy mortgage-bond paper as soon as Thursday, according to market sources, as it looks to meet goals set by regulators to reduce illiquid portfolio assets by 5% a year.

First energy-efficiency bonds sold to investors

Mar 07 2014

NEW YORK, March 7 (IFR) - The first-ever ABS backed by property-tax assessments funding residential renewable-energy and energy-efficient projects - known as Property Assessed Clean Energy loans - priced yesterday.

Mortgage servicers plan more MSR risk-transfer bonds

Feb 28 2014

NEW YORK, Feb 28 (IFR) - Embattled mortgage servicer Ocwen Financial and at least one other US servicer are actively working on new types of mortgage servicing rights (MSR) securitizations, known as direct-debt prepayment-risk deals or MSR IO (interest-only) trades.

Vacancy rates higher than expected in first REO to rental deal

Feb 19 2014

NEW YORK, Feb 19 (IFR) - The stabilized vacancy rates for the single-family home rental properties backing the first-ever REO-to-rental securitization from Blackstone's Invitation Homes unit were higher than that predicted by the issuer.

Dell plots its first asset-backed bond deal

Feb 14 2014

NEW YORK, Feb 14 (IFR) - PC maker Dell is heard to be eyeing the term asset-backed securities market on its own for the first time ever, six years after shedding its long-time funding partnership with CIT group.

LaGuardia Airport pitched securitisation plan to fund overhaul

Feb 14 2014

NEW YORK, Feb 14 (IFR) - At least two European banks have floated the idea of applying a UK-style whole-business securitisation approach to finance the US$3.6bn overhaul of the United States' LaGuardia Airport, according to sources with knowledge of the proposals.

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