Finance

Due diligence provider Allonhill LLC, Denver, Thursday afternoon laid off 140 staff workers and contractors as part of a company-wide restructuring.

Belgium’s KBC issued its inaugural covered bonds to strong investor appetite that saw orders for the bank’s €1.5 billion ($1.9bn) benchmark swell to €6bn.

The 2012 tally for CLO issuance is bound to surpass $47 billion this week, according to Standard & Poor’s.

The balance of specially serviced CMBS loans posted its eighth consecutive monthly decrease in November, but analysts at Deutsche Bank said in their 2013 CMBS outlook report that loans are not being modified or liquidated like they used to be.

Societe Generale said it hired Warren Geiger as a managing director and senior CMBS trader in New York.

RBC Capital Markets hired Ming Tang to its new collateralized loan obligations (CLOs) trading team, a spokesperson with the bank confirmed this week.

Moody’s Investor Service has assigned a Prime-1 rating to Royal Bank of Canada’s $10 Billion ABCP Program called Bedford Row Funding Corp.

Trepp LLC said in a report today that November CMBS delinquency rates increased by 2 basis points, reversing a consecutive three month declining trend.

A slight decline in refinance activity for all of November supports current prepayment expectations for December and January.

Redwood Trust filed a registration statement with the Securities and Exchange Commission to issue its first mortgage backed securities transaction for 2013 under its Sequoia series of deals.

The CMBS primary pipeline looks set to continue a busy pace until the end of the year with three deals marketing this week.

Freddie Mac announced its seventeenth multifamily mortgage backed securities for this year; the $1.1 billion structured pass-through certificates called K-023, is expected to price this week, .

A new Spanish mortgage law that gives a certain category of borrower a reprieve from foreclosure raises the risks of further measures that might hurt recoveries on defaulted loans.

For clues about where European RMBS performance is headed, Barclays Bank analysts are looking at jobless rates.

Standard & Poor’s today projected that securitizations of credit card receivables in the U.S. should hit $40 billion in issuance in 2013.

A dearth of refinancing options for European CMBS loans will not be covered entirely by new entrants as long as they focus exclusively on higher-quality properties.

A lawsuit that charged three ratings agencies with wrongdoing in the sale of mortgage-backed securities cannot advance, a federal appeals court in Ohio has ruled.

A couple of ABS deals have joined the pipeline this week.Santander, for its part, has a $791 million auto deal coming down the pike.

The ratings agency says the $329.9 million CSMC Trust 2012-CIM3's senior most tranche does not merit a triple-A rating.