Finance

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

Americold Realty Operating Partnership is in the market with a $600 million securitization backed by cold storage facilities. The deal is called Americold 2010 Trust Series 2010-ART.

Federal regulators took another beating on Capitol Hill Thursday for not getting ahead of problems in the mortgage servicing industry and not taking greater steps to stem foreclosures.

Phoenix Capital is offering an $816 million package of Fannie Mae servicing rights owned by a West Coast mortgage company called Just Mortgage.

As regulators try to collaborate on new securitization rules, a fissure has emerged in bankers' own thinking on the subject.

The removal of FFELP is a going concern for certain student loan issuers/servicers that have predominantly existed for the purpose of purchasing,originating,and servicing loans under the program, a Fitch Ratings report said.

After a record 2010, covered bond supply is expected to drop in 2011 as banks begin to choose other alternatives, Societe Generale analysts said.

Thomas F. O'Neill, a founding principal of Sandler O'Neill Partners, unveiled plans to retire from the New York banking firm — but join a financial services company controlled by MBS co-inventor Lew Ranieri.

Moody's Investors Service placed the 'Aaa(sf)' ratings on six Irish residential RMBS and one balance sheet CLO on review for possible downgrade.

Tradeweb and three Wall Street firms this week launched technology designed to mitigate the risk of failed to-be-announced (TBA) MBS trades in situations where deals can be resolved by delivery through tri-party arrangements.

Freddie Mac reported further increases in mortgage rates for the week ending Dec. 2 following the latest sell-off.

Cole Real Estate Investments hired Jeffrey Holland as head of capital markets and executive vice president.

The aggregate value of commercial real estate (CRE) loans priced by DebtX that back CMBS rose to 80.9% as of Oct. 29 from 80.5% as of Sept. 30. Loan values were 76.9% at October 30, 2009.

With foreclosures at an elevated level since the mortgage crisis broke out, the Mortgage Electronic Registry System (MERS) has come under scrutiny.

Even with much of the developed world still struggling, Brazil's economy exudes health. But robust growth over the medium to long term is very much conditioned on advances in infrastructure, where enduring bottlenecks are bound to tighten unless investment grows and private-sector investors play a larger role.

Last month Asset Securitization Report met with dealmakers to talk about the future of covered bonds in the U.S.

Next year is looking to be another interesting one for the MBS market and a contributor to this is the possibility of the implementation of a fails penalty.

There is a reasonable chance that the incoming Congress will finally attempt to tackle the contentious issue of GSE reform. However, radical changes to the GSEs (with some discussion of eliminating them entirely) have the potential to seriously disrupt the mortgage and housing markets. Despite their depleted financial condition, they remain entrenched in housing finance, as more than two-thirds of MBS are being issued through Fannie Mae and Freddie Mac.

The commercial real estate (CRE) market, and CMBS as a component of this sector, has not been immune from the problems brought on by the financial crisis.

The European securitization market saw the return of regular new issuance with approximately €75 billion ($98.2 billion) distributed to end investors year-to-date. However, the uptick in primary volumes is still dwarfed by the retained securitizations that remain on issuers balance sheets.