There are legal and contractual implications to a potential Greek exit from the eurozone, according to panelists at the Global ABS 2012 conference being held in Brussels this week by Information Management Network and the Association for Financial Markets in Europe.

The Federal Reserve Bank of New York today moved ahead with its planned auction of $1.9 billion from its Maiden Lane III portfolio that include assets from the Altius I and Altius II CDOs.

SunTrust Mortgage has named two new executive presidents, hiring industry veterans from PNC Mortgage and IBM Corp.

Fannie Mae, which boasts a “credit enhanced” delinquency rate of roughly 8% on its guaranteed loans, is moving closer to launching a pilot program to dispose of some of its nonperforming loans, according to industry advisors familiar with the GSE’s plans.

Standard & Poor's this week reaffirmed Clayton Holdings as a third party due diligence provider for RMBS after the rating agency completed its annual review of the company.

Maureen Stewart joined NewOak Capital as managing director of mortgage credit and compliance services, where she will help establish an “integrated, expert-driven mortgage credit advisory services platform.”

Paramount Residential Mortgage said it has hired former Caliber Funding official Dave Pilotte as its new wholesale manager in charge of the Inland Valley area and Southern California.

The ultimate aim of the European Commission’s (EC) different regulatory initiatives is not to throw out the baby with the bathwater but to ensure that the “baby is able to grow on two solid feet and not create havoc,” said Nadia Calvino, deputy director general at the EC directorate general internal market and services.

Expectations for an effort to rebrand Europe’s securitization industry, making it more acceptable to regulators and investors, are decidedly mixed.

GE Capital is issuing two securitizations worth $680 million via the public market.

The Government National Mortgage Association (GNMA) is in no rush to sell the $11.5 billion of mortgage servicing rights that it inherited almost two years ago when nonbank lender/servicer Taylor, Bean & Whitaker failed.

Scholar Funding Trust plans to issue the $219 million student loan securitization, according to a Fitch Ratings presale report.