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NPLs

NPLs refers to securitisations that are structured utilising non-performing loans from either one or a collection of loan issuers. Typically involving large whole loan portfolios from distressed asset investors or non-core asset disposals from a bank, NPL securitisations are a strongly growing part of the structured credit and ABS markets. NPL structures used to date include ABS, RMBS and CLOs, though it is likely that these will broaden to CMBS and beyond in time.


  • NPL provisioning guidance welcomed

    Brazil's capital markets regulator Comissão de Valores Mobiliários (CVM) recently...

    News Round-up    19 October 2015
  • Retail pay-off exposure highlighted

    Approximately US$3.7bn within Fitch's US CMBS loan universe is still scheduled to mature through the...

    News Round-up    19 October 2015
  • SCI Start the Week - 19 October

    A look at the major activity in structured finance over the past seven days

    Pipeline Activity picked up last week as several deals joined the pipeline. These deals consisted o...

    News    19 October 2015
  • Third NPL batch up for sale

    Fannie Mae is marketing its third set of NPLs as part of its programme to offload severely...

    News Round-up    12 October 2015
  • Trevi 3 portfolio acquired

    AnaCap Credit Opportunities III has acquired €1.2bn of non-performing loans from UniCredit...

    News Round-up    29 September 2015
  • Toro buys into NPL portfolio

    Toro has invested approximately €31.25m in instruments that are backed by the performance...

    News Round-up    29 September 2015
  • Freddie posts record NPL sale

    Freddie Mac says it has sold 5,208 deeply delinquent NPLs worth US$1.1bn, making i...

    News Round-up    22 September 2015
  • Second NPL pool sold

    Fannie Mae has announced Lone Star as the winning bidder for its second NPL sale that it began marke...

    News Round-up    24 August 2015
  • Structured real estate sale inked

    Sabal Financial Group has retained Holliday Fenoglio Fowler (HFF) to market and sell a US$541m portf...

    News Round-up    20 August 2015
  • Latest agency auction opens

    Freddie Mac is continuing its marketing of deeply delinquent NPLs from its mortgage investment portf...

    News Round-up    17 August 2015
  • Volatility may hit NPL ratings

    Volatile and uncertain cashflows may prevent Fitch from rating new Italian NPL securitisations for t...

    News Round-up    22 July 2015
  • Second batch of NPLs offered

    Fannie Mae is marketing the sale of its second round of NPLs, wh...

    News Round-up    20 July 2015
  • CMBS delinquencies climbing

    US CMBS delinquencies climbed slightly last month led by two large newly delinquent loans, according...

    News Round-up    14 July 2015
  • CRT, NPLs 'both attractive'

    Macro developments over the last few weeks have pushed residential credit wider, with CRT spreads at...

    News    14 July 2015
  • Securities purchase agreement inked

    CV Holdings has entered into a securities purchase agreement and an investor rights agreement with a...

    Job Swaps    2 July 2015
  • Valuations team beefs up

    MountainView IPS has added Alvin Hsu in a vp role and Alex Kolesnikoff in a senior analyst role. The...

    Job Swaps    25 June 2015
  • Spanish NPL decline highlighted

    Spanish bank non-performing assets (NPA) will continue to decline and even gain downwards momentum,...

    News Round-up    25 June 2015
  • Post-auction headache

    HUD NPL post-sale changes increase complexity

    The US Department of Housing and Urban Development (HUD) has been an increasingly significant source...

    News Analysis    9 June 2015
  • FNMA completes debut NPL sale

    Fannie Mae has disclosed the results from its first non-performing loans sale. The transaction compr...

    News Round-up    19 May 2015
  • Non-agency RMBS approach released

    Morningstar has published its US non-agency RMBS resecuritisation methodology, while updating its cu...

    News Round-up    19 May 2015
  • NPL pools up for bid

    The US Department of Housing and Urban Development has announced its first NPL sale under the Distre...

    News Round-up    5 May 2015