Finance

By now you've seen the stories and heard the industry chatter about how the nonperforming loan market is humming along like a well-oiled Toyota, which might be an apt metaphor since the Japanese carmaker has a good reputation but its models keep breaking down.

Meridian Capital Group, New York, has named Chad Johnson managing director of its commercial originations group.

IMH Secured Loan Fund, a real estate investment company, has received the required 51% approval needed from existing investors to go public.

Carlos Mendez will lead the newly created structured finance group at Sandler O’Neill and Partners, the firm announced today.

European ABS investors showed strong support for increased issuance in the ABS public market, according to a survey published today by Bishopsfield Capital Investors.

The opening of Information Management Network’s (IMN) Global ABS 2010 was marked by some hope for a European ABS market resurgence.

Many finance directors at different U.K., French and German firms indicated that they intend to make more use of receivables-based financing, according to a study by Demica.

The Federal Deposit Insurance Corp. has once again pushed back the auction deadline on the $23 billion AmTrust servicing portfolio, ASR's sister publication National Mortgage News has learned.

The Mortgage Bankers Association (MBA) is pleased with the National Association of Insurance Commissioner's (NAIC's) shelved the proposed increase in the risk-based capital (RBC) factor from 2.6% to 4.0%.

Ford Motor Credit Co. has filed a shelf registration for a new auto receivables securitization deal using the Ford Credit Auto Owner Trust.

EFS Volunteer is in the market with a $227.9 million transaction. The offering is backed by FFELP.

Bank of America Trust 2010-2 is in the market with a $1,002.1 million transaction. The offering is backed by automobile loans.

Freddie Mac and Fannie Mae have selected Veros Real Estate Solutions as a technology vendor for their Uniform Collateral Data Portal (UCDP).

The performance of Portuguese residential mortgage-backed securities was mixed in April, according to a report from Moody's Investors Service.

Securitization market participants appear to be unified on eight issues related to risk retention proposals and split on two, according to a draft report by a group that represents both the "buy" and "sell" side of trades.

RAM Holdings Ltd. announced the repurchase of $25.0 million of its 6.875% senior notes due 2024 for $14.3 million, realizing a gain of $10.7 million.

Quantifi announced the release of two new products- Quantifi CVA (Credit Valuation Adjustment) and Quantifi Counterparty Risk - currently in beta testing with a select few clients.

The former regulator of Fannie Mae and Freddie Mac said nationalizing the troubled GSEs is a bad idea, declaring that all government insurance programs are slated to fail.

Banks and mortgage servicers are not repossessing a massive backlog of distressed properties, which is likely to further depress home prices and prolong the housing crisis.

The House of Representatives Thursday afternoon overwhelmingly passed a Federal Housing Administration (FHA) reform bill allowing the agency to triple annual premium payments to 150 basis points, a move designed to bolster the insurer's wobbly finances.