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Volume 2014 - Number 44

November 21, 2014

Regulatory, Homeland Pressures Prompt RBS to Exit US Mortgage-Backed Securities Market

The Royal Bank of Scotland is shutting down its U.S. mortgage trading desk as it proceeds with a new plan to reposition its U.S. business. The announcement came after RBS reconsidered its initial plan disclosed five months ago to pare the mortgage trading unit by two-thirds over the next two years, cutting hundreds of jobs in the process. The plan also included an initial public offering of RBSí Citizens Financial Group unit. The plan changed...

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.



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With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.


No. It’s still difficult compliance/regulatory-wise.


Maybe. It’s under consideration.


Not now. But things could change as 2018 progresses.