Issue 505 - 9th September
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News Analysis
- RMBS
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Prepayment spikes
Shift in focus for agency CRT investors?
Investors in US agency credit risk transfer (CRT) RMBS are taking note of recent STACR prepayment spikes. Robust performance and the re-emergence of a structural nuance have spurred a shift in focus for a sector historically focused on credit risk. ...
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- RMBS
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SCIWire
- Secondary markets
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Euro secondary stays positive
The positive tone continues across the European securitisation secondary market. Although...
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Euro CLO rally continues
The widespread tightening in the European CLO secondary market is continuing. "We saw the rally ac...
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US CLOs still tightening
The US CLO secondary market is continuing its summer surge into September. "The key theme is that...
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- Secondary markets
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News
- Structured Finance
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SCI Start the Week - 5 September
A look at the major activity in structured finance over the past seven days.
Pipeline It was another quiet week for the pipeline as the Labor Day weekend came into view. At the final count there were three ABS, one ILS, four RMBS and four CMBS added. €800m Ginkgo 2016-PL1, US$533.9m PHEAA Student Loan Trust 2016-...
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- CMBS
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Mall sentiment eyed
The price of CBL & Associates Properties' stock moved higher over the course of August, while the Markit CMBX.BB.6 index moved lower, marking the first time this year that the two have disconnected. Morgan Stanley CMBS strategists believe thi...
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- Structured Finance
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Job Swaps
- ABS
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Lender seeks asset-backed future
Fintech consumer lender Uberima has appointed Richard Bartlett as cfo to help drive the shift to an...
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- Structured Finance
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BlueBay adds senior analyst
BlueBay Asset Management has hired Marcus Maier-King as a senior credit analyst. In this role, he wi...
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CLO expert joins Dentons
Dentons has recruited Martin Sharkey as a partner to its banking and finance practice in London. He...
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Resource America acquisition completed
C-III Capital Partners has finalised its acquisition of Resource America, with the move approved las...
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Agency hires for Europe push
Kroll Bond Rating Agency has brought in Mauricio Noe as head of Europe, with plans for the US&nb...
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Private credit team bolstered
Adams Street Partners has added four hires to its private credit team, building on the launch of the...
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CIFC pair jump ship
MidOcean Partners has hired Spencer Potts and Ruth Lane from CIFC, with the former coming in as head...
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- CDS
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Citadel makes CDS push
Citadel Securities is launching a European credit derivatives business and has hired Sylvain Lebre t...
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- Insurance-linked securities
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ILS start-up names ceo
Samir Shah has been appointed ceo of Ledger Investing, a start-up that seeks to provide a B2B market...
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Structured products pro recruited
JLT Re has hired Matthew Carter as a partner in its London market and international divisio...
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- RMBS
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MBS salesman suspended
Kevin Blaney has agreed to pay a US$30,000 fine and serve a three-month suspension from association...
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- ABS
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News Round-up
- ABS
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Chinese lease ABS listed
Shanghai Renren Finance Leasing Co has launched Leasing Asset-Backed Securitization Plan II, which w...
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- Structured Finance
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UCITS fund takes off
Angel Oak Capital Advisors reports that its MontLake Angel Oak Multi-Strategy Income UCITS Fund has...
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Canadian SF market 'strong'
The Canadian securitisation market has remained healthy and balanced throughout 2016, according to D...
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Green bond scores proposed
S&P is proposing a new product to analyse and estimate the environmental impact of projects...
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Capital relief trades webinar due
SCI is hosting a complimentary webinar on the current status of capital relief trades. The event is...
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Sukuk issuance remains patchy
Corporate and infrastructure sukuk issuance in the Gulf Cooperation Council (GCC) and Malaysia has c...
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- CLOs
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Retention relief granted
The US SEC last week provided Sancus Capital Management with a no-action letter in connection with a...
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- CMBS
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FRESB loan transferred
The first significant credit issue to hit a FRESB CMBS occurred last month. The US$3.1m Park Place A...
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Balloon payoffs spike in August
The percentage of loans that paid off on their balloon date rebounded in August to 68.4%, rising fro...
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Flooding raises CMBS fears
More than 300 properties backing CMBS loans may be at elevated risk due to major flooding in Louisia...
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Delinquencies reverse course
The Trepp CMBS delinquency rate reversed course in August and dropped for the first time since Febru...
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- Insurance-linked securities
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Cat bond issuance declining
Catastrophe bond issuance averaged two deals a month in the 12 months to 30 June 2016, notes Aon Sec...
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- NPLs
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Four more NPL pools sold
Fannie Mae has successfully offloaded another set of non-performing loans, it's seventh sale to date...
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Residential NPL sale announced
The US Department of Housing and Urban Development (HUD) has announced another sale of non-performin...
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- Risk Management
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China collateral memorandum released
ISDA has published a memorandum on the legal issues surrounding the exchange of collateral with Chin...
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OTC amendment objections raised
The three European Supervisory Authorities (ESAs) - EBA, EIOPA and ESMA - have&a...
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- RMBS
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Credit unions express CSP concerns
The FHFA's planned Common Securitisation Platform (CSP) might have a negative impact on credit union...
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'Less risk' in marketplace RMBS
Additional risks posed to RMBS issued by marketplace lenders (MPLs) will be mitigated by existing re...
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Mortgage originations spike
US mortgage origination figures hit a three-year high in Q2, with REO and short sales making up 7% o...
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Borrower profile lifted
Caliber Home Loans is in the market with its latest non-prime RMBS - the US$216.97m COLT 2016-2. Ste...
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- ABS
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