JPMorgan delays issue of jumbo RMBS
JPMorgan Chase (JPM) is said to be delayed in bringing its first private-label residential securitization to market post-recession.
JPM worked on the deal for months, but had structural issues that are slowing the process.
A spokesperson for JPM declined comment.
However, a source close to the deal went so far as to declare the deal had "been shelved."
Others say the deal may be privately placed instead.
There is growing confidence that big mortgage firms will begin to issue more private RMBS.
For example, Cerberus Mortgage Capital filed for its IPO recently, unveiling wide ranging plans to purchase residential mortgage-backed securities and mortgage servicing rights, according to the document at the Securities & Exchange Commission.