Michael Bolton: RMBS subject to scrutiny


The feeling from investors is that confidence in the securitisation market won’t return to pre-crisis levels until issuers provide loan-level data on new transactions.

In the last quarter of 2009, a momentary ray of light shone upon the UK residential mortgage-backed securities sector when Lloyds Banking Group (through its Permanent Master Trust facility) and the Nationwide Building Society (Silverstone Master Trust) brought two new issues to market.

But there is still considerable doubt over wh