Stranded assets, dealer floorplan, rental car, franchise, aircraft and container ABS should be treated as corporate credit risk to avoid the hefty risk capital based charged to off-the-run Consumer ABS deals, said a Citibank report today.
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PennyMac Mortgage Investment Trust was considered one of the runner-up bidders on a $70 billion package of mortgage servicing rights that was sold to JPMorgan Chase by MetLife.
November 6 -
U.S. primary ABS issuance continues its slower, post hurricane pace. Around $4bn priced last week, a below-average amount, and this week is likely to see the same.
November 6 -
Citigroup Global Market said in a report today that approzimately 48,500 loans with about $16.3 billion in unpaid principal balance in flood affected areas may not have the right insurance coverage, making them vulnerable to losses.
November 6 -
In a short note from this morning, the rating agency said it does not expect major changes in the short term resulting from the election, although it can affect the status of residential mortgage reform and covered bond legislation.
November 6 -
As loan losses mount, the Federal Housing Administration will issue a financial analysis next week setting the stage for what could be its first draw from the U.S. Treasury.
November 6
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Goldman Sachs is asking the U.S. Supreme Court to overturn a lower-court decision involving RMBS the company said would cost financial firms tens of billions of dollars.
November 5 -
Moody’s Investors Service said Monday that the damages from Hurricane Sandy will only impact bondholders of Combine Re Ltd Series 2012, a catastrophe bond that was underwritten by Swiss Reinsurance Co. in March 2012.
November 5 -
Nearly $700 billion of mortgage servicing rights — or 7.6% of the housing receivables marke — are in some stage of auction or sale.
November 5 -
Although trade group officials and certain lobbyists are hearing reports that the rule might be out before November’s end, others believe mid- to late December is more likely.
November 5 -
More than $1.5 billion in loans resolved pushes the delinquency rate to fall 30 basis points, it's largest drop in 14 months. Trepp is expecting this trend to continue in the upcoming months.
November 5 -
Freddie Mac said today that it expects its fifteenth multifamily CMBS from its K multifamily series of deals to price this week.
November 5 -
The market has been focusing on the U.S. Presidential elections since the results will affect outlooks for different key issues including the fiscal cliff, BofA Merrill analysts said.
November 5