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RMBS BWIC volumes creep up

23 April 2014

The US non-agency RMBS secondary market remains subdued, with a little under US$400m of P&I bonds on BWICs yesterday. Focus was on Alt-A hybrids and option ARMs as fixed-rate supply was light. SCI's PriceABS data shows a range of names out for the bid, including a few fixed-rate names. The prime 30-year fixed-rate CWHL 2005-28 A4 tranche...

© Elvert Barnes

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Autos boost ABS secondary supply

22 April 2014

An increase in US ABS bid-list supply yesterday was largely driven by auto ABS paper. BWIC volume reached around US$70m as equipment and whole business tranches also circulated. SCI's PriceABS data recorded several covers from the session as well as a range of price talk. Among those tranches was the FORDO 2013-B A3 tranche, which was talked at p...

© Elf

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Spark returns to US RMBS market

17 April 2014

US RMBS secondary market activity finally picked up yesterday, as a US$678m bid-list traded. Non-agency BWIC volume reached over US$1bn for the session, with SCI's PriceABS data capturing 80 unique RMBS bonds. Interactive Data notes that the US$678m list "has all the hallmarks of being from one of the GSEs", although nothing has been officially c...

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New benchmark needed?

17 April 2014

Meaningful shifts in cashflow, structure and collateral performance for GSMS 2007-GG10 may mean that consideration of other transactions as the benchmark US CMBS is warranted. Although the GG10 duper is still the largest in the sector, recent loan liquidations have seen a number of other tranches being written down. In fact, Interactive Data note...

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