While the redenomination specter haunts the more financially fragile members of the eurozone, Kazakhstan has actually gone through the exercise, sparking deep losses in a local RMBS, according to a note by Moody’s Investors Service.
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Even though third-party due diligence has always been performed on whole loans, the providers of these services have more skin-in-the-game now that rating agencies have very stringent requirements.
April 5 -
Auto ABS are gearing up for another busy week with some deals in the pike. A credit card deal is also coming to market.
April 5 -
Market Vectors Mortgage REIT Income ETF, a rules-based index intended to track the overall performance of publicly traded mortgage REITs, has risen by more than 10% year-to-date, according to a report published by Five Star Equities.
April 5 -
Fitch Ratings today lowered Saxon Mortgage Services' residential servicer ratings.
April 5
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By at least two measures CMBS delinquencies took a notable upward turn in the last month, and by one measure new defaults also are still on the rise. But some observers believe the deterioration in performance is slowing in some areas and better days may lie ahead.
April 5 -
The potential sale of the Maiden Lane III (ML III) assets might signal that the Federal Reserve is making its move to take liquidity out of the system, securitization experts said today.
April 5 -
Freddie Mac reported a slight easing in fixed-related mortgage rates in the week ending April 5. The 30-year rates averaged 3.98%, down one basis point from last week; 15-year rates slipped to 3.21% from 3.23%, while 5/1 hybrid ARMs were at 2.86% from 2.90%.
April 5 -
The Federal Reserve Bank of New York changed its investment objective for Maiden Lane III, a portfolio of mortgage-linked bonds acquired through its bailout of insurer American International Group (AIG), allowing it to explore the sale of some of the securities.
April 5 -
Bank of America has filed with the Securities and Exchange Commission to issue an auto transaction under its Bank of America Auto Trust 2012-1. The deal is worth almost $1.8 billion.
April 5 -
If the new RMBS deals issued in the past week give an indication of what the non-agency market space will look like, then it is clear that only the best will do.
April 4 -
A Financial Industry Regulatory Authority (FINRA) hearing panel has ruled that David Lerner Associates (DLA) charged excessive markups on CMO and municipal bond deals during a two-year period.
April 4