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Issue 470 - 8th January

  • SCIWire

    • Secondary markets

      • Euro secondary eases in

        The European securitisation secondary market is easing in to the New Year despite broader market vol...

      • Slow start for US CLOs

        The New Year is starting slowly for the US CLO secondary market. "The market is starting back up a...

      • Euro secondary picks up

        After a lull for a holiday in many European jurisdictions yesterday, the European securitisation sec...

      • US CLOs lack commitment

        The US CLO secondary market is suffering from a lack of investor commitment in all but the most liqu...

  • News

    • Structured Finance

      • Marketplace best practices outlined

        Orchard Platform has published a paper outlining eight essential best practices for marketplace lending investing. The report highlights the challenges for institutional investors and investment managers when approaching this emerging asset class, in...

      • Justifiable reliance affirmed

        The purchaser of an unrated junior tranche in the CDO transaction STACK 2006-1 adequately pled justifiable reliance by stating that it relied on the credit ratings of the senior tranches, according to a recent New York Supreme Court appellate ruling....

    • CMBS

      • CMBS 2.0 remits reviewed

        The balance of delinquent and specially serviced US CMBS 2.0 loans more than doubled year-over-year, while paid-off loans quadrupled, according to Morgan Stanley figures. Over 40% of 2010- to 2014-vintage loans reported 2014 year-end NOIs less than u...

      • North Dakota loans eyed

        Morningstar Credit Ratings is monitoring nearly US$340m of CMBS exposure to the oil-drilling hubs of North Dakota, where drillers have been scaling back in the wake of plunging oil prices. Over the past 24 months, the agency has placed 13 loans &...

    • RMBS

      • RMBS speeds to jump

        Several Alt-A and prime jumbo US RMBS deals could experience significantly higher voluntary prepayment speeds this year as a high number of loans are set to switch from interest-only to amortising. Morgan Stanley analysts identify certain key charact...

  • Job Swaps

    • ABS
    • Structured Finance

      • Special counsel named

        Schulte Roth & Zabel has promoted Jay Williams to special counsel in the New York office, wh...

      • Canada chief appointed

        DBRS has appointed Douglas Turnbull as vice chairman and country head, Canada. He reports to Dan Cur...

      • EM credit team spins off

        Argentem Creek Partners has completed a management buyout from Black River Asset Management. Argente...

      • DCM duo drafted in

        Cantor Fitzgerald has appointed Kevin Reynolds and Timothy Swift to lead its debt capital markets or...

      • Trading head replaced

        Jim Buccola has taken over the responsibilities of CMBS and CLO trading for Credit Suisse, following...

      • Annaly beefs up

        Annaly Capital Management has promoted five senior officers, added three to its management team and...

      • NPL pro recruited

        Crayhill Capital Management has appointed Thomas Wickwire as md in its New York office. He will serv...

      • ED hires for growth

        The European DataWarehouse (ED) has appointed Christian Thun as coo and deputy ceo, effective from t...

  • News Round-up

    • Structured Finance

      • Sukuk market to shrink

        The global sukuk market will remain below peak levels in 2016, says S&P, as the market's his...

    • CDS

      • Abengoa auction due

        An auction to settle the credit derivative trades for Abengoa CDS is to be held on 14 January, after...

      • Macy's exposure gauged

        Macy's has announced 36 new store closures as part of a cost-reduction plan. Morgan Stanley CMBS str...

      • Underwriting tool offered

        CrediFi Corp has launched what it describes as an end-to-end CMBS solution that provides valuable in...

      • Pay-offs hit 12-month low

        The percentage of US CMBS loans paying off on their balloon date fell sharply in December, posting t...

      • CMBS delinquencies inch up

        The Trepp US CMBS delinquency rate increased by 4bp to 5.17% in December, following three straight m...

      • 'No hope' for hope notes

        Despite the recovery in many US CMBS subsectors, Fitch continues to expect no recoveries from hope n...

    • RMBS

      • Dutch RMBS changes made

        S&P has revised its criteria for rating Dutch RMBS, having issued a request for comment in t...

      • US HPA variations outlined

        The US domestic housing market has experienced a 23% price increase since the beginning of the housi...


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