Former Morgan Stanley ABS pro Carolyn Morrill has started in her position as head of ABS syndicate at ABN AMRO, where she will be a managing director. Morrill, a longtime veteran of ABS syndicate and trading, is the first piece in what is expected to be a fairly large ramp up for its U.S. ABS group (as well as the Capital Markets group as a whole), following the defection of former ABS group head John Mullen, who resigned in early May. Morrill left her position at Morgan Stanley last fall.
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The fixed-rate loans are divided into three sub-pools that relied on rating methods from the RMBS, CMBS and ABS sectors to assess their risks.
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The House Financial Services Committee also sent to the full House two bipartisan bills, including one that would prevent large banks from opting out of having to recognize Accumulated Other Comprehensive Income in regulatory capital.
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The portfolio does not have any meaningful originations that have completed a full repayment cycle, making the company's performance data thin.
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Formerly of Wells Fargo, she will coordinate several key units to create a structure for a sustained capital markets program that capitalizes on recent innovation and growth in home equity finance.
April 17 -
The Structured Finance Association questions whether funding closed-end seconds is an appropriate role for the government-sponsored enterprise, while newer lenders welcome the liquidity support.
April 17 -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
April 17