Consumer ABS

Even as they begin dropping credit ratings as a supervisory source, regulators signaled Tuesday they are worried about abandoning their use altogether, suggesting that potential alternatives are not much of an improvement.

Wireless Capital Partners (WCP) is in the market with its first-ever term securitization backed by multiple assets and ownership interests in sites used for wireless communication equipment and other related purposes.

The Federal Deposit Insurance Corp. (FDIC) said Tuesday it would create two new divisions – one to handle systemic resolutions and the other devoted to consumer protection – in response to the enactment of the regulatory reform law.

Though the majority of the MBS/ABS group was formed in 2008 and 2009, Jefferies continues to expand in this area.

Regulators are poised next week to start moving away from reliance on the tarnished credit rating agencies in the supervisory process, but finding other options likely will be difficult.

Ally Financial, formerly known as GMAC, plans to sell as much as $1 billion in junk bonds in a benchmark deal, according to a filing with the Securities and Exchange Commission. Sources indicate the bonds could price Monday.

Loan modifications are still hurting borrowers'credit scores, but regulators and legislators said people's participation in such programs should end their delinquent status.

Assured Guaranty late Thursday posted second-quarter earnings that were the insurer’s best since its initial public offering in 2004.

Obama administration officials are pushing the largest banks to voluntarily adopt certain provisions of the Dodd-Frank regulatory reform law early, according to people with knowledge of the matter.

Distressed mortgage manager Deer Park Road Corp. has hired Scott Burg as associate portfolio manager, according to published reports.