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Issue 491 - 3rd June

  • News Analysis

      • Fair value?

        Call for standardised approach to MPL valuations

        In a sector where there is no standardised pricing methodology or standardised pricing reference data, a wide variety of approaches are currently being used to value marketplace loans (MPL) and peer-to-peer (P2P) loans. Not all of these approaches ar...

    • CLOs
      • Spring surge

        US CLO rally riding into summer

        The rally in the US CLO market is being reflected in new issuance, with investors witnessing some of the tightest spreads so far in 2016. Questions remain over the resilience of the sector, however. A strong second half of April was followed by a m...

  • SCIWire

    • Secondary markets
      • Euro CLOs strong

        Activity and sentiment in the European CLO secondary market is strong. "Overall tone is very posit...

      • US CLOs firming up

        The US CLO secondary market is heating up again after a subdued end to May. "The market was exhibi...

  • News

    • CDS
      • CDS liquidity moving to indices

        The buy-side's ability to source single-name CDS liquidity and form prices remains centralised around banks' ability to warehouse risk on their balance sheets, but that service is being rapidly diminished by Basel 3 and FRTB proposals, says GreySpark...

    • CMBS
      • Gateway mod pulled

        The February modification of the US$94.3m Gateway Salt Lake loan, securitised in JPMCC 2010-C1, has been rescinded. Trepp suggests that while the pulling of the modification may not be a first for the CMBS market, it is certainly the largest. The 6...

      • Building boom threatens hotel CMBS

        Burgeoning hotel room supply could increase risk for the US$3.68bn of fixed-rate loans backed by Manhattan hotels and securitised in CMBS monitored by Morningstar Credit Ratings, says the agency. Delinquent and specially serviced loans account for ju...

  • Job Swaps

    • Structured Finance
      • Tilton loses appeal

        The US Court of Appeals for the Second Circuit has affirmed the district court's dismissal of Lynn T...

    • CMBS
      • Ginnie fraud settled

        California-based First Mortgage Corporation (FMC) and six of its senior executives have agreed to pa...

  • News Round-up

    • CMBS
      • CMBS metrics diverging

        A number of metrics appear to be diverging within recent US CMBS 2.0 deals rated b...

    • Insurance-linked securities
      • Everglades Re upgraded

        S&P has raised its issue credit rating on Everglades Re Series 2014-1 notes to single-B plus...

    • RMBS
      • China RMBS steady so far

        Chinese RMBS has been performing well in its early stages, according to Fitch. This has been attribu...

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