Finance

Talk of a return European CMBS was among the many positive points the CMBS industry looked at as the Commercial Real Estate Finance Council kicked off its annual industry conference in Miami on Monday.try conference in Miami on a positive note. The event saw its attendance grow to over 1300 and the agenda this year reflects the successful year the CMBS market had in 2012.

Diamond Resorts is prepping a $93.56 timeshare securitization, according to a presale report published by Standard & Poor’s.

Flagstar Bancorp was sued Friday by MBIA over $165 million in losses related to two securitizations that Flagstar sponsored and MBIA insured in 2006 and 2007.

Ford, Honda, BMW and First Investors have collectively added $3.18 billion of auto-related securtizations to the new issue pipeline, bringing volume sold or marketed so far this year to $8.7 billion.

There was an 18 basis point decline in commercial mortgage-backed security loan delinquency rates in December over November, as resolutions of $1.7 billion outpaced additions of $1 billion, said Fitch Ratings.

Wells Fargo, JP Morgan and Bank of America priced the $600 million single-asset commercial mortgage-backed securitization backed by the Queens Center in New York City, Queens Center Mortgage Trust 2013-QC.

Retail banks might return to the Mexican market or residential mortgage-backed securities.

GM Financial, formerly known as AmeriCredit, prepped a $975.2M auto Receivables backed securitization deal, bringing year to date auto related issuance to $5.0bn in January 2013.

Canadian Imperial Bank of Commerce is marketing a credit card receivables deal backed by a pool of approximately $13.4 billion in receivables called CARDS II Trust‘s series 2013-1.

Four CREL CDOS totaling $1 billion were issued in the fourth quarter of 2012, and RBS expects to see another $5 billion and $10 billion hit the market in 2013.

The increase in mortgage rates should limit mortgage refinancing activity with the exception of HARP related activity.

Macquarie Bank is marketing $500 million of notes targeting the U.S. investor base under its Australian auto securitization deal, SMART ABS Series 2013-1US Trust

Redwood is looking to issue another securitization deal this month that would keep in line with the company’s 2013 goal of boosting issuance over this year.

The American Securitization Forum is concerned that the Consumer Financial Protection Bureau's new Qualified Mortgages guildelines will dry up credit for non-prime borrowers.

Santander Consumer USA priced its $1.25 billion securitization of subprime auto receivables called Santander Drive Auto Receivables Trust 2013-1.

Morgan Stanley and Bank of America priced its $1.23 billion commercial mortgage-backed securitization conduit, series 2013-C7 at strong levels.

The Minnesota Housing Finance Agency's $75 million of tax-exempt homeownership finance bonds mark its third use of a mortgage-backed pass-through structure that’s helped jumpstart new-money, tax-exempt borrowing for single-family housing.

Nissan Motor Acceptance Corporation upsized its prime auto receivables securitization deal yesterday to $1.36 billion from $1billion, on the back of strong investor demand.

Capacity constraints at mortgage lenders that limited the amount of refinancings they could process in November, meant business was held over into December resulting in prepayment speeds being unexpectedly higher last month.