Originators of private student loans can't seem to catch a break. Two years ago, the federal government stopped guaranteeing these loans, leaving them unsecured; more recently, there's been a push in Congress to make student loans dischargeable in bankruptcy. The loans are also attracting scrutiny from the recently empowered Consumer Finance Protection Bureau.
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Micro subprime retail auto ABS deals offer investors a large pickup in spread when compared to the broader subprime auto ABS transactions, according to a Barclays Capital securitized products research report.
July 23 -
Franklin Templeton Investments launched a new global bond fund that will focus on global debt, including emerging markets, a firm spokesman confirmed.
July 23 -
Moody’s Investors Service believes that the modifications that Brazilian regulators have proposed to the regulatory framework governing ABS are a credit positive for the country’s securitization market, according to its Weekly Credit Outlook.
July 23 -
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.
July 23 -
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The government-sponsored enterprises have implemented consistent guidelines for short sale procedures and those efforts are expected to expand to include additional loss mitigation efforts.
July 23 -
Correspondent One, which aims to be a major buyer of closed mortgages from nonbank lenders and others, has launched and is now in the process of closing some of its first transactions, according to vendors and consultants that work with the firm.
July 23 -
Today Freddie Mac said it is offering its tenth offering of multifamily MBS called structured passthrough certificates or K certificates.
July 23 -
First Horizon National in Memphis said Friday that it lost close to $125 million in the second quarter after it bought back scores of soured mortgage loans from Fannie Mae and Freddie Mac.
July 23 -
After the Treasury Department rolled out its Home Affordable Modification Principal (HAMP) reduction program in October 2010, it didn’t take long to figure out the incentive payments to investors were not high enough to encourage a high level of participation.
July 22 -
A Federal Reserve Board proposal to enact strict limits on how much credit exposure the largest banks can have to a major counterparty has significant design flaws that could raise the cost of credit, according to new analysis by the Clearing House.
July 22 -
Mortgages outperformed over the week based on expectations that the Federal Reserve will initiate QE3 at its September meeting and a drought in supply.
July 20