This week, we thought we’d go deep into Crédit Agricole’s equipment leasing ABS, particularly the choice of the controversial “new war in the Middle East” execution window for the re-offer of the senior notes……. Nah, I’m only messing with you. We’re doing Market Financial Solutions again!
It’s been a big week for further news on the situation, as more details have emerged on institutions exposed to MFS, as well as the unusual audit firms involved.
But there are still lots of questions, and only partial answers. We’re going to dig into some of these below and lay out the state of play.
If you like your coverage in audio format, we did a podcast on the MFS situation, with special guest Kawai Chung, chief executive of Folk2Folk, a UK specialist lender.
Folk2Folk is peer-to-peer funded, but Kawai has forgotten more about mortgages than I ever knew, having worked at RBS, ARA Venn Partners, Intriva Capital, and SilverRock Bank, setting up lenders and funding shelves, funding warehouse, buying forward flows, and analysing mortgage books.
Find the pod here, or search “Cloud 9fin” wherever you like to pod.
