AmbacSenior Managing Director Douglas Renfield-Miller has been named chairman of Ambac Assurance U.K. Ltd., where he will oversee Ambac's European operations encompassing both the London office and the Milan branch. Mr. Renfield-Miller will also continue to be responsible for the Asia/Pacific markets including Ambac's offices in Sydney and Tokyo. Renfield-Miller had been responsible for Ambac's commercial asset-backed securities, global structured credit, secondary markets and financial services businesses as well as the company's non-European international activities. Prior to joining Ambac in 2000, he was a in the principal finance and credit arbitrage group at UBS. Former Ambac U.K. Chairman, Executive Vice President John Uhlein III is now responsible for focusing on the continued development of Ambac's domestic structured finance business.
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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.
April 18 -
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.
April 18 -
The portfolio does not have any meaningful originations that have completed a full repayment cycle, making the company's performance data thin.
April 18 -
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