Reuters news service is reporting that bond insurer MBIA has reached settlements in its lawsuit against the London branch of UBS.

Management at Ally Financial Corp. is considering throwing part of its mortgage division into bankruptcy and then executing a sale of most of its “good” assets, investment banking sources said late Thursday.

Jones Day hired Ilene Froom as a partner in the banking and finance practice based in New York. She previously worked at JPMorgan Chase Bank where she was executive director and assistant general counsel.

Opportunities in the structured finance practice were among the motivators for Hogan Lovells to open an office in Rio de Janeiro, according to Emil Arca, a partner at the firm.

Citigroup has sold a $360.8 million CLO for Babson Capital Management, according to people with knowledge of the deal.

The Mortgage Bankers Association (MBA) is willing to back a GSE-related refinancing bill introduced by Sen. Al Franken, D., Minn., but wants assurances that the industry will no longer be hit with buyback requests on loans that are several years old.

The great land rush to riches in the Jumbo securitization market appears to have hit a brick wall.

Mortgage rates recorded modest increases in the week ending March 15, according to Freddie Mac's survey.More specifically, 30-year fixed mortgage rates averaged 3.92% compared to 3.88% last week. Meanwhile, 15-year fixed moved up to 3.16% from 3.13%; 5/1 hybrid ARMs rose two basis points to 2.83%, while one-year ARMs "jumped" six basis points to 2.79%.Mortgage rates are likely to have moved up higher as the survey is done earlier in the week.

Portugal's Banco Santandar Totta has hopped on the buyback bandwagon, announcing a tender for its RMBS.

Moody's Investors Service has said that Australian ABS performance experienced slightly higher delinquencies across most programs.

The apartment market is recovering nicely and Fannie Mae and Freddie Mac are enjoying the ride.

Recent increases in auto sales are a harbinger for higher auto ABS issuance in the upcoming months, according to an emailed note this morning from Standard & Poor's.