The securitization of residential rental revenue streams in Europe
Visualitza/Obre
Cita com:
hdl:2117/108066
Tipus de documentArticle
Data publicació2017-06-01
Condicions d'accésAccés obert
Llevat que s'hi indiqui el contrari, els
continguts d'aquesta obra estan subjectes a la llicència de Creative Commons
:
Reconeixement-NoComercial-SenseObraDerivada 3.0 Espanya
Abstract
The purpose of this paper is to analyze the securitization of rental streams, a new investment and finance product introduced in the USA in 2013 that enables fundraising from large residential portfolios owned by major investment funds and investment banking. The securities are made up of non-performance loans as well as real estate portfolios of financial entities.
REO-to-rental securitization is a step forward toward the democratization of finance through the
globalization of the residential market, improving risk sharing for major and retail investors. The securitization of rental streams in Europe has not taken off, despite several issuances in the USA since 2013 with significant success where first tranches obtained a credit qualification of triple-A from the majority of the main rating agencies.
CitacióRoig, J. The securitization of residential rental revenue streams in Europe. "International journal of housing markets and analysis", 1 Juny 2017, vol. 10, núm. 4, p. 503-518.
ISSN1753-8270
Col·leccions
Fitxers | Descripció | Mida | Format | Visualitza |
---|---|---|---|---|
Jaume_Roig_preprint.pdf | 413,0Kb | Visualitza/Obre |