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Issue 475 - 12th February

  • News Analysis

    • RMBS

      • Right to return

        Non-prime mortgages set for US comeback?

        Attempts to reinvigorate the US non-prime RMBS market appear to be gaining traction. However, the sector still needs to overcome being tarnished by the subprime stigma. Angel Oak recently tapped the non-prime RMBS market when it completed its first...

  • SCIWire

    • Risk Management

      • Euro secondary slides

        Activity and pricing levels are sliding across the European securitisation secondary market. Prime...

    • Secondary markets

      • Euro secondary lacklustre

        Friday saw another lacklustre session in the European securitisation secondary market. Macro marke...

      • Euro secondary sidelined

        The European securitisation secondary market remains quiet as participants continue sit out wider ma...

      • US CLOs challenged

        Internal and external factors are making things difficult in the US CLO secondary market. "There's...

      • Euro secondary struggles

        The European securitisation secondary market continues to struggle amid wider market volatility, but...

      • Euro ABS/MBS switchback

        Yesterday was a better day in the European ABS/MBS secondary market, but today looks set to see a sw...

      • Euro CLOs unsettled

        Wider market volatility is continuing to unsettle the European CLO secondary market. Thanks to the...

  • News

    • Structured Finance

      • SCI Start the Week - 8 February

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

        Pipeline Pipeline additions were heavily skewed to ABS last week. A total of 11 ABS deals were added, while there was also a single ILS, an RMBS, a CMBS and a CLO. The ABS were: US$1bn BMW Vehicle Lease Trust 2016-1; US$850m CNH Equipment Trust...

    • CMBS

      • Gateway mod to realise a loss?

        The US$94.2m Gateway Salt Lake loan - securitised in JPMCC 2010-C1 - has been assumed at US$78.5m and modified, following its acquisition by an investor group that reportedly includes Vestar and Oaktree (see SCI's CMBS loan events database). Morgan S...

    • RMBS

      • Potential PMI boost for RMBS

        The recovery of the private mortgage insurance (PMI) industry suggests that there is value to be found in legacy non-agency RMBS. Even insurers in run-off are making payments and bond values are expected to improve significantly for legacy deals back...

  • Job Swaps

    • Structured Finance

      • Customer services boosted

        Assenagon has bolstered its customer services capability by appointing Ilona Wachter as md for insti...

      • Allianz buys CMBS investor

        Allianz Global Investors is set to purchase Rogge Global Partners (RGP) from rival insurer Old Mutua...

      • SF legal duo brought in

        Kaye Scholer has beefed up its finance department by bringing in structured finance experts Howard G...

      • DBRS chairman named

        Stephen Joynt has been appointed executive chairman of DBRS Group. Already a member of the board, he...

  • News Round-up

    • Structured Finance

      • Hancock exposure gauged

        About US$114m in US CMBS securities across 16 loans could be affected by Hancock Fabric's second ban...

      • CMBS pay-offs jump

        The percentage of US CMBS loans paying off on their balloon date rebounded sharply last month. The J...

    • Insurance-linked securities
    • Risk Management

      • MiFID 2 deadline extended

        The European Commission has announced a one-year extension for firms to comply with its MiFID 2 stan...

      • Common CCP approach agreed

        The European Commission and the US CFTC have reached an agreement on a common approach regarding req...


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