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GC Asia
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Securitization stalwart Paratus AMC up for sale via Houlihan
UK specialist lender Paratus AMC is up for sale, GlobalCapital understands. If a deal is done, it will open a new chapter in the history of one of the best known names in European securitization, and change the ownership structure for a host of RMBS deals.
13 May 2021 -
First BTL issuer clinches STS after investor nudge
Three years after the label was first launched, Dutch mortgage lender Domivest is bringing the first BTL RMBS transaction to qualify for the ‘simple, transparent and standardised’ (STS) framework.
11 May 2021 -
The Irish canary: first European country to end mortgage holidays holds breath
Ireland has become the first country in Europe to end mortgage payment holidays, with arrears dropping off towards the end of 2020. RMBS investors are eager to see whether moratoriums turn to future defaults — and whether this will hit other countries as their repayment rest periods come to an end.
10 May 2021 -
Bankers divided on EBA’s LGD consultation
The European Banking Authority’s consultation assessing risk weights and loss given default of mortgage risk has drawn a mixed response from bankers, with some suggesting the regulator was angling for higher capital charges, while others came to the opposite conclusion.
06 May 2021 -
EBA revises NPL data plan which could become compulsory
The European Banking Authority has published a new version of its NPL data templates, which are supposed to serve as a standardised way for buyers and sellers of non-performing portfolios to exchange information.
05 May 2021 -
Fleet Mortgages breaks London Wall silence with OWS deal
Fleet Mortgages is offering its first UK buy-to-let RMBS under the London Wall brand since 2018, following several years in which the company’s collateral emerged largely in Citi’s multi-originator principal shelf Canada Square. One William Street Capital, which renewed its partnership with Fleet in 2019, is sponsoring the deal.
04 May 2021 -
Mars Capital sells Irish risk as Arrow buyout heats up
Mars Capital, now a subsidiary of Arrow Global, has probably sold controlling positions in two Irish reperforming loan portfolios, securitized in RMBS transactions Grand Canal 1 and 2, with the Grand Canal 1 portfolio rapidly returning to the market in a Morgan Stanley-backed deal announced on Wednesday. The move comes as TDR Capital’s bid for Arrow heats up, with shareholders now ready to vote on approval.
29 Apr 2021 -
The days of swift evictions are over after Covid
Mental health is moving to the forefront in the discussion of what action lenders should take when people are no longer able to pay back their debts. One lasting legacy of the pandemic could be that repossessing a home becomes a last resort rather than a first response and that will have consequences for investors in mortgage-backed products.
27 Apr 2021 -
UK launches 'debt freeze' protecting borrowers
UK government is introducing a debt freeze for suffers from mental health problems, introducing a 60 day “breathing space” where lenders will be prevented from communicating with borrowers who are in arrears. Mental health has also come to the forefront of debate around how to help so-called ‘mortgage prisoners’ stuck on high interest rates after the financial crisis.
27 Apr 2021 -
Piraeus covers capital raise to clean up NPL portfolio
Piraeus Financial Holdings, the Greek holding company which owns Piraeus Bank, has launched a capital raise to give it the firepower needed to offload non-performing loans and has already secured enough demand on one morning of book-building to cover the deal.
21 Apr 2021
RMBS
