Finance

Norske Skog's said it was seeking to raise €300 million ($426 million) via a senior unsecured five-year bond that will be callable after three years and will replace debt due next year.

A counterparty credit risk survey conducted by Quantifi shows financial firms have already or plan to implement major changes in their counterparty risk systems.

The American Securitization Forum (ASF) will have Securities and Exchange Commission (SEC) Chairman Mary Schapiro as keynote speaker at its 2011 annual meeting in Washington, D.C. on June 22.

A Lloyds TSB Bank hybrid ABCP, Cancara Asset Securitization, has restructured two transactions to remove structured liquidity support that had substantially limited the risk of deterioration of credit quality of the receivables pools for commercial paper holders.

The Financial Industry Regulatory Authority (FINRA) has fined Credit Suisse $4.5 million and Merrill Lynch $3 million for misrepresenting delinquency data and inadequate supervision with regards to their RMBS issuance.

Regulators plan to reshape the GSEs by slowly pricing them out of the market, according to a report from Deutsche Bank Securities.

Principia Partners released the latest version of its structured finance platform called Principia SFP.

The U.S. Treasury sold a portion of its AIG shares, in a move that reduces the government's holding by 20%.

The aggregate value of commercial real estate (CRE) loans priced by DebtX backing CMBS rose to 80.9% as of April 29 from 79.8% as of March 31. Loan values were 76.4% as of April 30, 2010, according to a release from the company.

Although rising new issuance and increasingly successful loan modifications are helping slow CMBS loan defaults, delinquencies likely will climb 12% this year, according to a new report from Fitch Ratings on fixed-rate conduit loans.

Freddie Mac's MBS issuance fell 5% in April following a 38% drop in March, according to a monthly activity report the GSE issued Wednesday morning.

Retail originations by commercial banks and savings institutions fell 30% in the first quarter, on a sequential basis, according to new figures compiled by the Federal Deposit Insurance Corp. (FDIC).

DriveTime Automotive Group is in the market with a $246,88 million deal called DT Auto Owner Trust 2011-2 (DTAOT 2011-2).

Mortgage application activity rose 1.1% in the week ending May 20 even as mortgage rates eased back from their recent lows.

For weeks, Republicans have said their objections to the Consumer Financial Protection Bureau (CFPB) are substantive, and not based on worries about the agency's de facto leader, Elizabeth Warren. But at a House hearing Tuesday, GOP members launched a series of personal attacks on Warren, suggesting she was lying and sometimes interrupting her responses.

A new TransUnion report showed that consumers who only defaulted on their mortgage in the economic recession were far better risks versus those who went delinquent on multiple credit lines such as auto and credit card loans.

In the big picture, while investors counting on muted prepayments today are perhaps not completely ignoring falling rates, they do appear to be less worried about them than government policies.

Residential Credit Solutions (RCS) has issued a newly created RMBS called Residential Credit Solutions Trust 2011-1 totaling $110.68 million. The offering is backed by both current and delinquent residential loans.

South African RMBS issuer Investec Bank is refinancing notes under its program called Private Residential Mortgages (PRM) Ltd - Series 2.

Carrington Mortgage Services and the Attorney General of Ohio have reached an agreement to work collaboratively to help struggling homeowners who are facing foreclosure.