Finance

Manager Activity: Autos Book Runner Amount (US$ Mil) Rank Mkt.

Navigating the non-agency RMBS market is not an easy task given that the market has seen little primary activity in 2011 and lots of volatility on housing stats.

Credit Suisse is prepping a $450 million term loan for retailer Lord & Taylor, according to a person familiar with the transaction.

A sell-off this week was boosted by a risk-on mentality based on more optimistic expectations regarding the European Union and stronger-than-expected economic data.

GMAC Mortgage on Friday said it will no longer purchase loans originated by mortgage correspondents or brokers in Massachusetts, citing the regulatory environment in the state.

Amherst Securities Group (ASG) yesterday released a detailed report that examines recent trends in modification activity in non-agencies.

DBRS has created the position of chief credit officer, Canadian structured finance and appointed Jerry Marriott to this role as of Dec. 1.

Confidence surveys suggest consumer borrowing might be stabilizing as the economy shows signs of recovery, but it remains unlikely to increase in the short run, according to a Moody's Analytics conference call on the outlook for consumer finance.

The Bank of Ireland announced the results of its tender offers targeting all outstanding tranches of the RMBS issued by Kildare Securities Ltd. and Brunel Residential Mortgage Securitization No.1 PLC.

As derivatives regulators hurry to implement key provisions of the Dodd-Frank Act, they face continuing questions over a firm that failed well after last year's passage of the law.

Toronto-Dominion Bank made an extra payout of $70 million to the previous owners of Chrysler Financial last quarter under an agreement to raise the price of the deal if the auto lender's assets perform better than expected.

Analysts anticipate little fallout from Standard & Poor's downgrade of Assured Guaranty.

The Federal Housing Administration (FHA) is considering raising insurance premiums on loans above $625,500, according to HUD secretary Shaun Donovan.

For several months Fannie Mae has insisted that it's not in the servicing business, but a recent 10-Q filing by the government-owned GSE reveals that it agreed to buy $74 billion of MSRs from Bank of America in the third quarter. No purchase price was disclosed.

New York Mortgage Trust (NYMT) said it plans to use the net proceeds from its recently priced common stock public offering to acquire certain of the company's target assets, including multifamily CMBS.

Further restrictions on new bank funding mean that the majority of European CMBS loans are still failing to repay at maturity, according to a Fitch Ratings report.

Massachusetts on Thursday sued the nation's five largest residential servicers, alleging their foreclosure practices were unlawful and deceptive.

Standard & Poor's has assigned preliminary credit ratings to the series 2011-1 class A and B notes and the series 2011-2 class A notes issued under the principal-at-risk variable-rate note program Atlas VI Capital Ltd.

JG Wentworth is in the market with a $198 million structured settlement securitization.

CMBS data provider Trepp just released its November 2011 U.S. CMBS Delinquency Report today.