RMBS

  • Repurchase reaction

    Investors respond to GSE delinquent loan buybacks

    Fannie Mae and Freddie Mac's decision to repurchase billions of dollars of 120 day-plus delinquent loans from their guarantee books has resulted in varying reactions in the investor community. While anticipated volatility is attracting some accounts to the sector, others can't sell their holdings fast enough.

    "The prices of agency MBS are getting slammed - particularly 5.5 and 6 coupons," .......

    News Analysis 17 February 2010

  • Italian RMBS protected against forbearance scheme

    UniCredit has launched a scheme that is intended to curb any negative impact on its RMBS transactions connected with the Italian government's mortgage borrower forbearance scheme (Piano Famiglie). Affected transactions include the Cordusio, F-E Mortgages and Heliconus RMBS.

    The Piano Famiglie scheme allows borrowers that meet certain criteria to enjoy a payment holiday period of a maximum of 12 months .......

    News Round-up 17 February 2010

  • Illiquid solution

    Celestino Amore, md and founder of IlliquidX, answers SCI's questions

    Q: How and when did IlliquidX become involved in the structured credit market?
    A: IlliquidX is a financial services boutique providing innovative solutions to professional investors that include institutional, corporate and high net worth clients. We enable our clients to effectively price and trade illiquid securities, such as high yield and distressed debt, bankruptcy claims, NPLs, MBS, CLOs, CDOs and CSOs. .......

    Provider Profile 10 February 2010

  • New firm to target German mortgage assets

    Elystan Capital Advisors - a Munich-based investment firm targeting mortgage-backed assets and the mortgage banking sector in Germany, Austria and Switzerland - has launched, with the backing of private equity house GI Partners.

    Following recent developments in the financial markets, the Elystan founders - Keith Fischer, Robert Grassinger and Ulrich Kastner - believe that there is significant pressure on the .......

    Job Swaps 3 February 2010

  • South African RMBS could face ratings volatility

    Increased ratings volatility within South African RMBS transactions could occur due to the practice of originators repurchasing non-performing mortgage loans, says Moody's in a new special comment.

    Dion Bate, a Moody's assistant vp, analyst and co-author of the report says: "Since 2007, Moody's has observed a general deterioration in the asset performance of South African RMBS transactions. This is a .......

    News Round-up 14 October 2009

  • Distressed debt manager absorbs ResCap staff

    Mountain Funding, a real estate investment company specialising in distressed real estate debt portfolios, has absorbed the 14 senior management and real estate professionals from the REO asset management group of GMAC-ResCap's Business Capital Group. Mountain Funding completed this transaction through its asset management affiliate, Mountain Special Servicing.

    As part of the transaction, GMAC-ResCap has engaged Mountain to provide asset .......

    Job Swaps 19 August 2009

  • Non-performing US prime mortgages jump

    Between March and June this year non-performing dollar-value balances in prime US mortgages increased by 13.8% - the largest rise shown among the three RMBS categories of prime, subprime and Alt-A - according to a new report from S&P's market, credit & risk strategies (MCRS) group. Non-performing balances of Alt-A mortgages have risen by 3.2%, while subprime structures have surprisingly .......

    News Round-up 19 August 2009

  • Extension risk rising

    Views diverge over non-agency RMBS fundamental value

    Slowing prepayment rates are raising the spectre of extension risk in the US non-agency RMBS market. At the same time, a divergence in views about fundamental value in the sector appears to be emerging.

    The non-agency RMBS market is at present distorted by the influx of cash into the sector from private equity and distressed debt hedge funds, according to .......

    News Analysis 19 August 2009

  • Under pressure

    Surge in troubled loans puts servicers to the test

    Mortgage servicers, both residential and commercial, are facing increasing pressure as the volume of troubled assets continues to rise sharply. There are concerns over whether primary and special servicers are adequately prepared and that - in certain cases - the infrastructure is not capable of dealing with the expected surge in delinquencies.

    According to Alan Cleary, md of soon-to-launch UK .......

    News Analysis 13 May 2009
×