In its latest Securitized Products Weekly, Nomura Securities cited Sallie Mae’s announcement from last week that stated $4.5 billion of FFELP loans, which comprise about 3% of its portfolio, was expected to consolidate under the Special Direct Consolidation Loan Initiative.
- Europe
Mayer Brown's teleconference today highlighted several regulatory developments, that could come into effect "at any time"; which issuers must keep in mind when doing cross border deals that are sold into the U.S.
September 13 -
Freddie Mac reported 30-year fixed mortgage rates were unchanged at 3.55%, while 15-year rates slipped just one basis point to 2.85%.
September 13 -
S&P analysts expect the sector's volume will most likely meet their $10 billion full-year forecast, eclipsing 2011's $9.7 billion issuance volume.
September 13 -
Servicers that work on delinquent Federal Housing Administration-backed mortgages are becoming more proficient at short sales, FHA said in a recent 3Q12 report to Congress.
September 13 -
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The Federal Housing Administration is bracing for a large spike in insurance claim payments now that servicers have adjusted to the requirements of the $25 billion robo-signing settlement.
September 12 -
Partners Group has raised a €375 million ($480 million) fund that will invest in senior secured bank loans and make direct loans to midmarket companies, the firm said today.
September 12 -
A California judge upheld his own decision to whittle the government's claims against the firm's ex CEO Michael Perry.
September 12 -
Ambac set up the account in March 2010 to hold certain troubled liabilities. Because of Ambac Assurance's financial troubles, Ambac has not been paying claims on the segregated account.
September 12 -
The Italian Bank, UniCredit has made its first ABS tender offer since 2010 to repurchase up to €1bn ($1.28bn) of its Italian RMBS and lease ABS bonds.
September 12 -
The Mortgage Bankers Association reported mortgage application activity rose 11.1% in the week ending Sept. 7. Adjusted for the Labor Day holiday, the Refinance Index surged 12% to ~4723, while the Purchase Index gained 8% to 193.
September 12 -
Fitch Ratings assigned an 'F1sf' rating to the asset backed commercial paper issued by Windmill Funding Corporation, a partially supported multi-seller ABCP conduit sponsored by The Royal Bank of Scotland.
September 12
