>Officially launched during the Global ABS confrence in mid-June, the initiative of prime collateralized securities (PCS) could provide the stimulus to issuance for which European players have been waiting.

Manager Activity: Autos Book Runner Amount (US$ Mil) Rank Mkt.

2012 2011 2010 ABS (Public + 144A) 125,663.5 80,299.7 72,572.4 ABS (Public + 144A excluding CDOs) 115,294.8 75,870.7 71,322.1 ABS (Public Only) 72,451.6 42,525.1 32,105.4 ABS (144A Only) 53,211.9 37,774.5 40,466.9 Non-Agency MBS 27,204.5 35,183.0 10,878.9 Agency MBS 167,213.0 221,786.7 241,267.6 CMBS 16,916.1 20,433.2 10,566.6

Prudential Investment Management has priced a $423 million collateralized loan obligation.

Proposed bank capital rules are likely to both benefit and crimp the securitization market, potentially making highly rated transactions less attractive while having uneven effects on different asset classes.

MORTGAGE DATA 30-yr. Fixed 15-yr. Fixed 5-yr Treasury 1-yr Treasury- MBA Refi Home Purchase Rate Mortgage Rate Mortgage Indexed ARMs Indexed ARMs Index Index Week ending 08/02/12 3.55%

Investors appeared very much to play the range this final week of June - and a tight range it is. In the last half of June, the 30-year current coupon spread to 10-year notes has ranged between 106 and 109 basis points.

Lehman Brothers Holdings has completed the sale of its Aurora Bank unit, which concludes "a process that successfully avoided a potentially costly government resolution process of Lehman's two banks and that will ultimately yield significant recovery value for the Lehman creditors," a release from the bank said.

There were 63,000 completed foreclosures in the U.S. in May 2012 versus 77,000 in May 2011, according to CoreLogic’s National Foreclosure Report released today.

Amherst Securities Group (ASG) analysts in their latest Amherst Mortgage Insight talked about the recently approved Homeownership Protection Program (HPP), which allows municipalities to acquire underwater residential mortgages using the right of eminent domain. The program is a product of a resolution approved on June 19 by California’s San Bernardino County and its two cities named City of Ontario and the City of Fontana.

The Consumer Financial Protection Bureau (CFPB) is planning stronger disclosure requirements for reverse mortgages as more evidence emerges that senior citizens are using the product without fully understanding its main features and risks.

Credit card securitization is likely to surpass its $20 billion forecast this year, although the sector still faces competition from cheaper funding options, Standard & Poor's analysts said in an emailed report today.