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...US asset-backed and mortgage-backed securitisation issuance has totalled $463bn in 2023, the lowest for this point in a year since 2016, according to Dealogic data....
...It had $120bn of investment securities — which include its $91bn mortgage-backed securities portfolio — at the end of 2022, far exceeding its $74bn total loans....
...Real estate financing has traditionally been dominated by banks such as Barclays, Lloyds and NatWest in the UK, and investment banks including JPMorgan, Morgan Stanley and Wells Fargo in the US, according...
...The government created Freddie Mac, Ginnie Mae, mortgage-backed securities, modified mortgages and subsidised rates for homeowners. It was a 1 per cent mortgage era....
...Wells Fargo has hired Derek Van Zandt from Citigroup to lead media and telecommunications banking, Bloomberg reported....
...Several pointed out that it has avoided the whopping big mistakes of rivals such as Wells Fargo and Citigroup (they all noted that the London Whale was not a good look)....
...He will join the panel on a two-year secondment from the bank beginning in May. Wells Fargo has named Doug Braunstein as a vice-chair....
...The JPMorgan banker-turned-exchange boss turning noodles into securities In modern capitalism, you can securitise all sorts of things — mortgages, the loans backing private equity buyouts, car loans, even...
...The US Department of Justice alleged that UBS defrauded investors when it sold 40 residential mortgage-backed securities deals between 2006 and 2007, which ultimately sustained substantial losses during...
...The move is the latest attempt by JPMorgan to beef up its legal wealth management business after two decades of trying to break the grip of Citi in New York, as well as that of Wells Fargo, which dominates...
...Blackstone Mortgage Trust and KKR Real Estate Finance Trust, two of the biggest mortgage real estate investment trusts, have halted loans to any new borrowers....
...Ben Whitmore, whose funds include the £2.1bn Jupiter UK Special Situations Fund and the £1.6bn Jupiter Income Trust, is leaving at the end of July to set up his own firm....
...By contrast, JPMorgan Chase and Wells Fargo — the nation’s first and third-largest banks, respectively — each had about $40bn in unrealised bond market losses, while fourth-largest Citigroup’s paper losses...
...At the Sohn investment conference in London on Wednesday, Block said he is shorting Blackstone Mortgage Trust, a publicly traded real estate investment trust Blackstone took control of a decade ago as it...
...The US Securities and Exchange Commission approved new rules which will bring more of the Treasury market onto venues scrutinised by regulators, while limiting leverage in some corners of the market....
...Adding to investor concerns is the proportion of deposits that lenders invested in longer-dated securities like US Treasuries and mortgage-backed securities when interest rates were low....
...When Amar Bhidé joined the board of Baillie Gifford’s flagship Scottish Mortgage Investment Trust three years ago, an insider complimented the academic as a “world-class brain and a world-class bastard”...
...In many cases, big commercial real estate lenders in San Francisco, which include JPMorgan, Deutsche Bank, Wells Fargo and Bank of America, syndicated the property debt via commercial mortgage-backed securities...
...Goldman Sachs’ credit strategists, for their part, say that the agency mortgage-backed securities market could incrementally benefit from the treatment of MBS under the new rules: The notice of proposed...
...to the collateralised mortgage obligations that precipitated the global financial crisis have also generated concerns....
...Meanwhile, a slowdown in demand for commercial mortgage-backed securities has left banks of all sizes holding on to more property debt than they or regulators would like....
...Wells Fargo has partnered with asset manager Centerbridge to launch a $5bn private credit fund that will lend to midsized US companies, as banks race to find a toehold in the rapidly growing private credit...
...At the end of the first quarter, it had $8.4bn of outstanding loans backed by commercial property, according to the FDIC report. Wells Fargo had $91bn and Bank of America had $60bn....
...The four biggest US banks — JPMorgan, Citigroup, Wells Fargo and Bank of America — lost $52.4bn of market value in Thursday trading....
...would force banks, as a group, to either hold more capital, own fewer Treasuries and agency mortgage-backed securities, or both....
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