Finance

An increase in late-stage arrears for prime Dutch RMBS is causing a build-up in potential foreclosure stock. However, a stall in the foreclosure process for these transactions will continue to pressure their collateral performance, according to a Fitch Ratings report.

Assured Guaranty Europe (AGE) has issued a financial guarantee for a U.K. Private Finance Initiative bond issue, the first European monoline wrap since the financial crisis erupted.

The Federal Reserve Bank of New York may be looking to resume sales from it Maiden Lane II portfolio, according to several market reports.

Mortgages continued to perform well through the second week of the New Year despite 10-year note yields declining below 1.90% (to 1.857% Friday morning) on continued uneasiness associated with Europe.

JPMorgan Chase suffered a residential repurchase loss of $390 million in the fourth quarter, a 17% increase from the year earlier period, and a sign that Fannie Mae, Freddie Mac and other secondary market investors are not easing up on their buyback demands.

Freddie Mac said it plans to issue a Mortgage-Linked Amortizing Notes security.

Goldman Sachs this week asked a federal court in Los Angeles to dismiss a billion-dollar private label MBS related lawsuit brought against the firm by the National Credit Union Administration.

Apollo Commercial Real Estate Finance Inc. has refinanced with Wells Fargo all of the debt outstanding under the Term Asset-Backed Securities Loan Facility (TALF) program administered by the Federal Reserve Bank of New York.

Redwood Trust, Inc. announced today that Brett Nicholas will take on the role as the mortgage REIT's President. Fred Matera will take over Nicholas' previous role of Chief Investment Officer.

Investment advisory firm, American Realty Capital hired Andrew Winer to lead a number of the firm’s strategic debt initiatives.

Banks' risk managers are growing more concerned about the stability of the student loan market and fear that delinquencies on most types of consumer loans will increase in the coming months, according to a FICO survey.

Capital Markets Cooperative, a secondary market specialist, is continuing to look at possible acquisitions, but is in no rush to sign on the dotted line.

The credit outlook for U.S. asset-backed commercial paper (ABCP) in 2012 is negative, although the outlook for the credit quality of assets funded by ABCP is neutral to improving, according to a Moody's Investors Service report on the sector.

More details emerged this week on Redwood Trust's new RMBS deal. The mortgage REIT told ASR last month that it planned to issue its fourth transaction early 1Q12.

Standard & Poor's expects CLO portfolio credit to be stable this year, said the agency's analysts in an emailed report released this morning.

Freddie Mac reported mortgage rates eased to new record lows for all products in its survey for the week ending Jan. 12.

The small size and poor liquidity of lower-rated CMBS tranches have curbed demand for this paper among large buyers, said Ethan Penner, president of CBRE Capital Partners.

Law firm Paul Hastings added a partner to its leveraged finance practice in Europe.

Golub Capital Partners is close to launching a $250 million middle-market CLO, arranged by Wells Fargo, according to a report from Moody’s Investors Service.