Weekly Issue Archive »

Issue 426 - 27th February

  • News Analysis

    • RMBS

      • Competing pressures

        Future of GSE g-fees weighed

        The US FHFA is set to conclude a review of GSE guarantee fees by quarter-end. Execution levels on Freddie Mac's most recent risk transfer RMBS imply that there's room for a drop in g-fees, yet FHFA return-on-equity assumptions indicate a bias towards...

    • Structured Finance

      • Game changer

        Resolution regulation to transform covered bond approach?

        Scope Ratings has dubbed the implementation of the European Resolution and Recovery Directive and similar regimes in other European countries as a "game changer" for the covered bond market. The improved credit characteristics and lower probability o...

  • SCIWire

    • Secondary markets

      • US CLOs on the up

        Activity is picking up in US CLO secondary today with a strong bid for the right deals. "There are...

      • Euro CLOs keep coming

        Today sees another healthy chunk of European CLOs in for the bid. Yesterday again saw strong BWIC...

      • US CLOs slow down

        After a busy couple of days, activity in the US CLO secondary market has slowed today. "There's st...

      • US CLOs see direction

        US CLO secondary activity picked up after a slow start yesterday and found some direction for oil-re...

      • Euro ABS/MBS keeps active

        The European ABS/MBS secondary markets continue to be active across an increasing range of sectors. ...

      • US CLOs firm further

        Yesterday's positive moves in the US CLO secondary market have continued into today. "There's defi...

      • European BWIC boom

        After a quieter day on the BWIC front yesterday European securitisation markets are set for a boom i...

  • News

    • Structured Finance

      • SCI Start the Week - 23 February

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

        PipelineSeveral new deals have been announced in the wake of the recent conference. Last week there were 10 ABS transactions added to the pipeline, as well as one ILS, one RMBS, two CMBS and two CLOs. The ABS were: US$330m Ascentium Equipment Recei...

    • CMBS

      • CMBS sub debt proliferating

        Subordinated commercial real estate loans have emerged as a compelling alternative for investors seeking higher yields while targeting specific credit opportunities. Coupled with looser underwriting standards, this has driven an increase in the volum...

      • CMBS 2.0/3.0 watchlistings eyed

        February US CMBS remittance data indicates a significant up-tick in the number of post-crisis loans that were watchlisted by master servicers for potential performance concerns. The rise in overall new watchlistings is a sign of deteriorating perform...

    • RMBS

      • UKNC opportunity eyed

        The latest Eurosail restructuring and remarketing of debt tranches provides investors with an interesting route into UK non-conforming RMBS. ESAIL 2007-4BL's shorter-dated A2a tranche, in particular, appears to offer a rare opportunity in the asset c...

  • Job Swaps

    • ABS

      • ABS trader switches banks

        Marshall Insley has joined Credit Suisse to co-lead ABS trading for the bank with Ted Moran. Insley...

      • Altisource appoints ceo

        Altisource Asset Management (AAMC) has hired George Ellison as ceo, succeeding current ceo Ashish Pa...

      • ABS syndicate head named

        Bank of America Merrill Lynch has hired Tristan Cheesman as head of ABS syndicate for EMEA. He will...

      • Chief economist named

        Radian Group has appointed Clifford Rossi as svp and chief economist for the firm. In this position,...

    • CDS

      • GFI agreement mulled

        BGC Partners says it is engaged in discussions with GFI Group and expects to reach a consensual agre...

    • Insurance-linked securities

      • ILS exec hired

        CGSC North America has hired William Ludington as evp for carrier management and alternative markets...

      • ILS pro hired

        Securis Investment Partners has hired Stephen Lister to work in its operations team in London. Liste...

    • RMBS

      • California probe revealed

        Goldman Sachs has disclosed in its 2014 Form 10-K that, as part of the RMBS Working Group investigat...

      • HLSS sale welcomed

        New Residential Investment Corp is set to acquire all outstanding HLSS shares for US$18.25 per share...

  • News Round-up

    • ABS

      • Tourism boost for SME ABS

        With the weakness of the euro and prevailing low oil prices, tourism in Spain should continue on an...

    • Structured Finance

      • Total return ETF debuts

        State Street Global Advisors (SSGA) and DoubleLine Capital have partnered to launch the SPDR DoubleL...

    • CDS

      • Caesars auction results in

        Final results of the Caesars Entertainment Operating Company Inc CDS and LCDS auctions have been pub...

    • CMBS

      • CRE performance positive

        All US CRE sectors performed well in 4Q14, according to Moody's. The agency says performance was sup...

      • CMBS metrics diverging

        New issue and legacy US CMBS metrics continue to diverge, says Fitch. New issue metrics continued to...

      • RadioShack exposure gauged

        RadioShack has outlined a list of almost 1800 stores that it intends to close due to its bankruptcy...

      • Expanded CLO tool launched

        Thetica Systems has launched an expanded portfolio analysis tool that is designed to enable users to...

      • Italian prepays to rise

        Increased competition in the Italian mortgage market is likely to raise prepayment rates and make th...

      • Rate cut effects examined

        Moody's says the Reserve Bank of Australia's (RBA) decision to cut the official cash rate by 0.25% t...

      • MSR sale agreed

        Ocwen Loan Servicing has signed an agreement in principle to sell to Nationstar Mortgage residential...


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