JPMorgan Chase and Wells Fargo are retaining more high-quality, conforming mortgages that they would normally sell to Fannie Mae or Freddie Mac, raising concerns that the banks are adversely selecting the weakest loans for the government-sponsored enterprises.
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Entergy Louisiana will service a $242.8 million securitization of storm recovery charges. The bonds will be issued to recover costs incurred by the Louisiana utility for repair of facilities damaged by hurricanes.
July 24 -
CarFinance Capital is readying its second subprime auto loan securitization of the year, according to a presale report published by Kroll Bond Rating Agency.
July 24 -
Morgan Stanley and Bank of America Merrill Lynch plan to issue $911 million of securities backed by 67 mortgage loans on 72 multifamily and commercial real estate properties.
July 24 -
Deutsche Bank has priced a $1.29 billion commercial mortgage securitization, according to a regulatory filing.
July 24
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Managers of CLOs minted since the financial crisis are quickly increasing second-lien loan holdings to replace their shrinking bond exposure; Moody's sees no credit impact.
July 24 -
European collateralized loan obligations underperformed other types of securitization in the region in the first half of 2014, but Barclays expects CLOs to catch up on some of the ground they lost.
July 23 -
Ex-Jefferies & Co. Managing Director Jesse Litvak was sentenced to two years in prison for lying to customers about mortgage-backed securities.
July 23 -
Alterna Tax Asset Group plans to issue $101 million of securities backed by property tax lien certificates from municipalities within the states of Florida, Illinois, Maryland, New Jersey and New York.
July 23 -
Decisions about how to apply U.S. swaps trading rules abroad should be based less on fears of risk to the financial system and more on considerations of market integrity, according to attorney Timothy Karpoff.
July 23 - Europe
UK interest only mortgages are repaying at a similar rate to amortizing loans, according to Moody's Investor Service.
July 23 -
Citigroup plans to issue non-conforming, U.K. residential mortgage backed securities in a deal that is backed both by buy-to-let mortgages and non-conforming purchase loans.
July 23
