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Europe Ripe For Loan Sales.
London -- The whole loan sales market in Europe offers mortgage lenders a viable alternative to securitization, according to a recent report by Standard & Poor's Ratings Services' office here.
"While challenges in as diverse a market as Europe undoubtedly exist, the report claims Europe is poised for significant growth in the whole loan sales market, following in the footsteps of the U.S. experience," S&P said.
"European mortgage lenders are seeking diversified capital market funding sources," said Emily Bradley, a credit analyst in the Structured Finance Ratings group in London, in an S&P press release.
"This comes amidst low levels of mortgage debt relative to the U.S. and sustained growth in property markets," she said.
Ms. Bradley explained that these conditions are providing the impetus for significant growth in the whole loan sales market.
"Growth will be facilitated not only by macroeconomic conditions - an integrated system of credit scoring and continued improvement in the collection and availability of data will increase transparency and help, too, as will the continued sophistication of market participants," she added.
"This market provides a relatively new alternative to ...
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Source: HighBeam Research, Europe Ripe For Loan Sales.