A couple of British and Australian RMBS deals recently distinguished themselves in the issuance market, a sign for some in the asset securitization business that a wave of such products could be on the way.
"Given the noise recently, investors are looking to diversify out of the U.S. home equity stuff," one market participant in New York said. "As long as it is prime stuff, people are jumping to it."
As one London market participant noted, a lot of large mortgage lenders, in the U.K. especially, held off from issuing RMBS paper because they had not fully appreciated all the benefits of issuing asset-backed securities.
"Securitization was only being …
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