Finance

MountainView Servicing Group said it has completed the sale of a $442 million package of Fannie Mae bulk servicing rights.

Fannie Mae Monday morning confirmed to ASR sister publication National Mortgage News that its multifamily unit is the subject of an Inspector General probe being conducted by the Federal Housing Finance Agency (FHFA).

Obvion issued a €744.3 million ($1.3 billion) Dutch RMBS dubbed STORM 2011-IV B.V.

MF Global filed for Chapter 11 protection today, less than a week after being downgraded to junk status.

Greek banks and RMBS transactions are at risk of losing interest payments because a Greek housing agency has delayed, if not frozen, paying interest subsidies, according to Fitch Ratings.

The week kicks off with the usual auto deals, a timeshare ABS and a tobacco settlement revenue bond offering.

JPMorgan Chase late last week rebutted federal claims that it misled four now defunct corporate credit unions into buying $1.5 billion of risky MBS and pointed the finger — as National Credit Union Administration's (NCUA) own internal reviews have — at the management of the failed corporates and at NCUA's own examiners.

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

Bank of America, which has vowed to reduce its overall risk in mortgages, is close to completing the sale of a $50 billion package of Freddie Mac mortgage servicing rights, according to advisors close to the deal.

FBR Capital Markets has made large cuts to its leveraged finance group, including high yield trading staff.

Buckley T. Ratchford, head of global bank loan trading and distressed investing at Goldman Sachs, will leave the firm at year’s end, according to an internal memo obtained by ASR sister publication Leveraged Finance News.

The Commercial Real Estate Finance Council in Japan plans to revive CMBS by implementing new market standards.

CarMax Business Services and World Omni Financial Corp. are in the market with auto securizations.

Rep. Scott Garrett unveiled a reform plan on Thursday designed to draw the private sector back to the secondary-mortgage market after troubled Fannie Mae and Freddie Mac are eventually terminated.

Iowa Student Loan Liquidity Corp. is in the market with a student loan transaction worth $249 million, according to a preliminary offering memorandum. Morgan Stanley is managing the transaction.

A new timeshare deal from Starwood Hotels is slated to price next week, according to a Bloomberg report.

ABN Amro has set up a new securitization vehicle that largely mirrors the bank's existing Dolphin Master Trust.

Both the chief executive officer and the chairman of the board of Freddie Mac are stepping down within the next few months, the Federal Housing Finance Agency (FHFA) said late Wednesday.

Freddie Mac reported mortgage rates held fairly steady in the week ending Oct. 27. The 30-year fixed mortgage rate averaged 4.10% with an average 0.8 point, down one basis point from last week, while 15-year fixed rates were unchanged at 4.38%.