Sallie Mae will issue at least $6 billion or go up to $10 billion of SLABS this year. However, Kenneth Fischbach, director of capital markets at the firm, is envisioning around $8 billion of SLABS issuance from Sallie in 2012. These remarks were made at the American Securitization Forum annual meeting held this week in Washington D.C.
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Impac Mortgage, Irvine, Calif., is entering the reverse mortgage lending business on a retail basis in the Southwest with plans to expand it later on, said company president Bill Ashmore.
July 13 -
A recent Fannie Mae multifamily DUS REMIC that had two additional types of tranches not normally included in past deals brought in a slightly higher percentage of new investors than usual.
July 13 -
The American Securitization Forum (ASF) wrote a letter to the San Bernardino County Board of Supervisors that stated that the proposed plan to use eminent domain to seize residential mortgages would be “poor public policy and unconstitutional.”
July 13 -
The Royal Bank of Scotland (RBS) did a comparative analysis of the CMBS 3.0 super senior bonds and CLO 2.0 ‘AAA’ spreads to find where the similarities are in terms of relative value.
July 13 -
WASHINGTON — Twelve Democratic senators have called for a U.S. investigation into any role banks and regulators may have played in the scandal over the London Interbank Offered Rate.
July 13
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Two Harbors Investment Corp. plans to offer 35,000,000 shares of its common stock in an underwritten public offering to buy more RMBS. The sale is subject to market and other conditions.
July 13 -
Wells Fargo Bank on Thursday agreed to pay $175 million to settle allegations by the Department of Justice (DOJ) that it targeted black and Hispanic neighborhoods in cities such as Baltimore and Chicago and steered those borrowers into high-cost subprime loans.
July 13 -
The Federal Reserve Bank of New York is planning on selling more assets from 20 CDOs forming part of its Maiden Lane III (ML III) portfolio. Offering circulars were released today.
July 12 -
Although “sloppier” Alt-A fixed-rate bonds are attractively priced versus their prime counterparts, Amherst Securities Group (ASG) analysts said in a recent report that the collateral is converging.
July 12 -
Harley Davidson Credit Corp. is planning to sell a $519 million securitization under its Harley-Davidson Motorcycle Trust 2012-1. The transaction is collateralized by motorcycle contract backed notes.
July 12 -
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Nearly three-quarters of senior tranches of the tobacco settlement bonds will default should cigarette consumption in the U.S. continue on its current rate of annual decline, said Moody's Investors Service in a report.Specifically, the rating agency finds that if the decline in consumption continues at a 3% to 4% pace, as Moody's projects, bonds constituting 74% of the aggregate outstanding balance of all the tobacco settlement bonds will default.
July 12
