Finance

Bluestep Finans AB and Blustep Bostadslan AB are working on a Swedish Krona denominated non-conforming RMBS issuance called Bluestep Mortgage Securities No.2.

Concerns about risk retention rules could lead CLO managers to structure new deals with shorter non-call periods, according to analysts at Barclays.

Through bitter experience, bond purchasers learned about the moral hazard embedded in private RMBS and their grossly inadequate legal protections.

Over the last three years, however, the share of portfolios of securitized European auto loans originated by non-captives has risen significantly. And Moody’s Investors Service says this trend has historically indicates a higher credit risk overall for the market.

Amherst Securities is preparing to issue a $1.85 million CMBS backed by non-performing loans and real estate-owned commercial properties, according to a Fitch Ratings presale.

Stonegate Mortgages may be the newest name added to the prime RMBS pipeline in a sector of securitization that has seen volumes increased 2.7 times compared to 2012.

Shellpoint the home lender founded by mortgage-bond pioneer Lewis Ranieri is lining up its second RMBS deal of 2013.

Hyundai priced its $1.28 billion auto loan deal and World Omni Financial Corp. priced its $783 million auto-lease backed securitization deal.

Sallie Mae upsized its latest Federal Family Education Loan Program (FFELP) backed ABS deal, SLM Student Loan Trust 2013-5 to $995.8 million from $747 million.

Citigroup and Goldman Sachs plan to issue a $989.54 million CMBS deal that is expected to price the week of Sept. 16th.

The deal, Textainer Marine Containers III Series 2013-1, will issue a single tranche of notes with a preliminary ‘A’ rating from Standard & Poor’s.

If implemented as-is, the latest risk retention proposals that U.S. regulators released August 28 will lead to changes in deal structure and credit quality in CMBS.

Toyota Motor Credit Co. priced its $1 billion deal dubbed Toyota Auto Receivables 2013-B Owner Trust on Tuesday evening.

Wells Fargo is exploring the sale of some mortgage servicing rights because the market is flush with potential buyers and it sees little opportunity to cross-sell many servicing clients.

Laurie Goodman has left Amherst Securities, residential mortgage-backed securities strategy group to pursue a role at the Urban Institute, full-time.

Paragon Mortgages is working on the first U.K. buy-to-let transaction of 2013.

Progress Residential said today that its new revolving credit facility of $400 million it has entered into with Deutsche Bank will be used to bulk up its portfolio of single family home rental assets.

Ford launched its upsized $1.43 billion auto floorplan ABS deal today within price guidance.

The European Central Bank said on Monday that some residential mortgage-backed securities and ABSs backed by loans to small and medium-sized enterprises not meeting its new loan-level reporting requirements could still be eligible for repo funding.

Barclays will pay $36.1 million to settle allegations that it financed, purchased, and securitized residential loans that were “presumptively unfair under Massachusetts law,” during the subprime mortgage meltdown.