Ally Financial agreed to pay $2.1 billion to unsecured creditors of its bankrupt mortgage unit, Residential Capital, including securitization trusts.

FeatherStone Investment Group is working on its first securitization of rental income; the deal should be completed in the next 90 to 120 days.

Ohio’s FirstEnergy Corp. subsidiaries, the Cleveland Electric Illuminating Company, Ohio Edison and Toledo Edison - are planning a $505 million utility securitization.

A large portfolio sale by a European bank is set to test market appetite for non-agency residental mortgage-backed securities (RMBS).

The Federal Housing Finance Agency should require the government-sponsored enterprises to purchase loans with deeper levels of credit enhancement in exchange for bona fide reductions in guarantee fees, the Mortgage Bankers Association said.

Will Howard Davies of PIMCO will serve on the Prime Collateralized Securities (PCS) market committee.

Santander UK is readying an £1.35 billion-equivalent securitization of residential mortgage loans, according to Standard & Poor’s; it includes a dollar tranche.

DBRS said that the automated underwriting used by non-bank specialty finance companies has led to a pick-up in small, unsecured business lending. These lenders are now considering ABS issuance.

The new issue auto ABS pipeline this week includes a new deal from Toyoto Motor Credit Corporation.

BlackRock Financial Management has re-priced two classes of a $366 million collateralized loan obligation, according to Standard & Poor’s.

The latest generation of European CLOs may expose investors to a risk that didn’t exist in most pre-crisis deals: fluctuations in foreign exchange rates.

The percentage of securitized timeshare loans with late payments declined again in the first quarter, according to Fitch Ratings.