Feb 10, 2012
- Hugh Leask
SNS Favors RMBS, But Mart Conditions Key
SNS Bank sees securitization as an important part of its overall funding arsenal, though future issuance volumes from the Dutch lender hinge on market conditions, Guido Scharwachter, head of structured finance at the firm, told SI Friday.
SNS structured and retained a EUR3.8 billion ($5.03 billion) Dutch residential mortgage-backed securitization, Lowland Mortgage Backed Securities, earlier this month. The deal comprised two senior classes, a EUR538 million ($710.1 million) A1 tranche and a EUR2.8 billion ($3.69 billion) A2 bond, both....