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Issue 510 - 14th October

  • News Analysis

      • Changing places

        Consultancies driving European valuation recruitment

        Valuation consultancies have been a key recruitment growth area over the past year - either through incumbent firms expanding their headcount or as a result of new market entrants. Valuations-based hiring at sell-side institutions is also a...

    • Structured Finance
      • Excess baggage

        Reg AB 2 loan-level disclosures weighed

        Loan-level disclosure requirements under Regulation AB 2 are expected to have a limited impact on ABS issuers and investors when they come into effect on 23 November. While the rules aim to boost deal transparency, scepticism prevails about the value...

    • Marketplace Lending
      • Scaling up

        Platforms eager to issue further marketplace ABS

        Funding Circle and Zopa intend to tap the securitisation market on a regular basis, following their debut transactions this year. Both platforms recently discussed their experiences issuing ABS at marketplace lending conference Lendit and expressed e...

  • SCIWire

    • Secondary markets
      • Euro secondary solid

        The European securitisation secondary market remains solid in the face of strong supply. Yesterday...

      • Euro ABS/MBS active

        The European ABS/MBS secondary market is staying active this week. "The busy primary market is tak...

  • News

    • Structured Finance
      • SCI Start the Week - 10 October

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

        Pipeline The pipeline was once again dominated by auto-related ABS last week. Trios of CMBS and RMBS were also announced. The auto ABS that entered the pipeline were: US$206.34m CPS Auto Receivables Trust 2016-D, Securitized Term Auto Receivables...

    • CMBS
      • Mall performance gauged

        Regional mall liquidations amounting to US$3.89bn have since 2010 resulted in US$2.88bn in CMBS losses, or a 74% loss severity, according to Morningstar Credit Ratings. The agency estimates that a further US$3.81bn (or 7.8% of the balance) of loans b...

      • Pari passu loans proliferating

        A combined US$64.1bn (original balance) of pari passu loans have been issued across single-asset/single-borrower (SASB) and conduit CMBS 2.0 deals, according to Deutsche Bank figures. US$52bn of the loans were securitised in conduit CMBS and account...

    • RMBS
      • Euro RMBS shelves debut

        The inaugural rated deals from two new European RMBS programmes have been announced. Both platforms are backed by asset managers active in the structured finance space. The first transaction to hit the screens was London Wall Mortgage Capital's deb...

  • Job Swaps

    • Structured Finance
      • Illiquid credit head hired

        ICBC Standard Bank has appointed Juliano Mattar to the newly created role of head of investor sales...

      • Investor nabs loans vet

        NN Investment Partners has hired Gabriella Kindert to its alternative credit boutique. She will be r...

      • Senior management shuffled

        Clayton Euro Risk has announced a number of changes to its senior management team. Among those affec...

    • CDO
      • Manager replacement mooted

        A meeting of the Stanton MBS I controlling class has been convened for 31 October to pass an extraor...

    • CLOs
      • CLO vet poached

        Brian Horton has joined Onex Credit as a portfolio manager. He will work with fellow portfolio manag...

    • Insurance-linked securities
      • Law firm poaches ILS pro

        Dentons has hired John Sarchio as partner in its insurance regulatory practice. He will advise on in...

  • News Round-up

    • ABS
      • Conn's re-offers notes

        Conn's has entered into an agreement to sell the previously retained class C notes issued as part of...

    • Structured Finance
    • CLOs
      • Delinquencies inch up

        US CMBS delinquencies climbed slightly higher last month, largely due to the shrinking denominator,...

      • ACICS hit highlighted

        Morningstar Credit Ratings believes that the US Department of Education's termination of its recogni...

      • Data error reviewed

        Moody's has placed the ratings of eight tranches from four RMBS issued by Nationstar HECM Loan Trust...

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