Finance

Gleacher & Co. said it is closing its MBS and rates, and credit product businesses effective immediately. It will remain in the investment banking business.

This is only days before the American Securitization Forum (ASF) is scheduled to host its annual conference, also in Last Vegas.

Consel SpA an Italian consumer credit company plans to issue Monviso 2013, a €348 million ($454M) securitization deal backed by Italian consumer and personal loans, according to a Standard & Poor’s presale report.

Toyota Motor Credit Corporation priced its upsized $1.25 billion auto receivables-backed securitization deal on Tuesday.

Pricing has emerged on a $500 million collateralized loan obligation that Bank of America is marketing for CVC Credit Partners.

Bank of America, Citigroup and JPMorgan Chase all received failing grades on Fannie Mae's test of mortgage servicers based on overall performance, customer service and foreclosure prevention efforts.

Private student loan lenders already give borrowers options that fall in line with what the Consumer Financial Protection Bureau is considering to make private student loan repayments more affordable, according to the Education Finance Council.

They will report to Adam Siegel and David Cannon, both co-heads of ABS/MBS/CMBS trading, Americas.

Flagship Credit Acceptance is in the market with a $222.16 million transaction backed by subprime auto loans and led by Wells Fargo Securities.

Flagship Rail Services plans to issue an inaugural securitization of railcar leases that has been assigned preliminary ratings by Standard & Poor’s.

Wells Fargo plans to issue a $300 million single asset, CMBS that is collateralized by one fixed rate whole loan secured by Bergen Town Center mall in Paramus, NJ.

The CMBS conduit new issues pipeline heated up with several new issuers coming to market on Monday that included a $1.27 million Morgan Stanley/Bank of America Merrill Lynch deal.

Australian residentical mortgage-backed securities (RMBS) are benefitting from a benign local economic conditions.

Bankruptcy filings fell 13.2% in 1Q13, much faster than the 6%-7% rate that Fitch is predicting for the full year.

Cantor Commercial Real Estate Lending, German American Capital Corporation and KeyBank are sponsors on the latest CMBS conduit to come to market.

The currently marketing $1.2 billion, UBS and Barclays’ conduit gets the distinction of being the first U.S. CMBS to include a non-U.S. domiciled asset, according to BofA Merrill Lynch.

Toyota Motor Credit Corporation kicks off 2013 issuance with plans to bring a $1 billion auto receivables-backed securitization deal.

UBS lost its appeal today to dismiss the Federal Housing Finance Agency lawsuit against it for fraud and misrepresentation in mortgage-backed securities, according to court documents.

Obvion announced plans to issue a €744.7 million ($969.10 million) Dutch RMBS, Storm 2013-II— its 2nd transaction of 2013.

The Loan Syndications and Trading Association is proposing a new risk retention plan for CLOs that meets the Dodd-Frank Act's requirements while allowing market players to originate new CLOs.