Emerging Markets

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Russian RMBS: Safe, For Now

The fact that deals are backed by fixed-rate mortgages helps protect them from climbing interest rates in Russia. Very low LTVs also help.

China's Securitization to Expand Beyond Autos: Moody's

New asset classes could include equipment leases and consumer loans; such deals could be sponsored by both existing and first-time issuers such as commercial banks, local branches of international banks, financial leasing companies and asset management companies.

China Auto Securitization Gears Up

As more and more Chinese gain the financial access to buy a car with a loan, lenders will look increasingly to securitization to keep origination going.

BMW Prices Chinese Auto Loan Securitization

The deal, Bavaria Sky China 2014-1, which priced today, is the first placement of an asset backed securities in China by a European automaker.

Volkswagen Obtains Ratings for its Inaugural Chinese Auto Loan Securitization

Volkswagen has obtained ratings from both Fitch Ratings and Moody’s Investors Service on its $800 million renminbi ($128 million) securitization of Chinese auto loans.

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Articles

Ratings Disagreements Head to Mexico

Controversy over the Mexican equipment lease sector

After Crash, Brazilian ABS Poised to Recover

After contracting sharply last year amid regulatory uncertainty and an economic slowdown, Brazil’s structured finance market now appears to be poised for a recovery.

New Blood Revives Russian RMBS

Five new originators of Russian RMBS debuted last year; players say the issuer stable will keep growing.

Fitch: Securitization Investors Span the Globe

Investors no longer feel limited to their own country for securitization investment opportunities; they are becoming comfortable with the risks and rewards of investing in and owning a global book.

Can Brazil's Housing Boom Spark a Nascent RMBS Market?

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Fannie Mae Exploring New Ways to Transfer Risk to Private Sector

Unlike their existing risk-sharing programs, which have drawn $12.5 billion of private capital into the mortgage market by referencing $454 billion of mortgages since their July 2013 inception, some of the latest deals transfer the first loss sustained when a homeowner stops making payments.

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