Octagon Credit Investors is preparing its second collateralized loan obligation of the year, according to a presale report published by Fitch Ratings.

Trapeza Capital Management, a New York investment firm, filed legal documents earlier this month to force FMB Bancshares in Lakeland, Ga., into involuntary bankruptcy. Trapeza, which manages a collateralized-debt obligation containing FMB's trust-preferred securities, says in its filing that it is owed $13.6 million in unpaid debt and interest.

FirstCity Financial Corp (FCFC) plans to issue commercial mortgage-backed securities backed primarily by non-performing loans, according to a presale report published by Kroll Bond Rating Agency.

Texas Windstorm Insurance Association priced its upsized inaugural $400 million catastrophe bond issued from the Alamo Re shelf program .

Wyndham Worldwide plans to issue $250 million of securities backed by timeshare receivables, the issuer's second deal of the year.

Sankaty Advisors is marketing its second collateralized loan obligation deal of the year, according to a presale report by Fitch Ratings.

Mercedes-Benz priced its first auto loan securitization of the year, according to a person familiar with the deal.

Eleni Skordaki has joined Dechert's finance & reale state practice as partner in the London office.

A nonbank mortgage servicer that took on more loans than it could handle ended up delaying payments to Fannie Mae and Freddie Mac, according to a government watchdog report.

Referring to the criteria for Prime Collateralized Securities as “a living construct,” the PCS initiative today said it had revised what determines whether a securitization receives this label of high-quality or not.

Amherst Securities Group and Pierpont Securities have merged to become a joint fixed-income broker-dealer company that will be known as Amherst Pierpont Securities.

Precise Mortgages plans to issue £235 million of securities backed by non-conforming U.K. mortgages, according to a Standard & Poor’s.