it was reported late last week that Ken Rivkin is no longer head of Bank of America Corp.'s CMBS Capital Markets Group. Rivkin, formerly the head of CMBS trading, was just promoted to the newly formed group two weeks ago. His current status with the company remains unclear.
Argentina's Banco Hipotecario Nacional (BHN) is back in the market with its fourth international MBS transaction: BHN IV Mortgage Trust Series 2000-1 (BHN IV). The residential mortgage deal will be worth at least $100 million, though it may be bumped up to as much as $175 million, depending on demand. It is being managed by Bear, Stearns & Co. in New York. The notes have a 2.9-year average life and pricing is said to be 400 basis points over Treasurys.
Investment manager David L. Babson & Co., a subsidiary of Massachusetts Mutual Life Insurance Co., was said to be out in the market last week with a mortgage collateralized bond obligation for approximately $140 million. PaineWebber Inc. is the underwriter.
Daniel H. Mudd has been named vice chairman and chief operating officer for Fannie Mae. Prior to Mudd's position at Fannie Mae, he served as president and chief executive officer of GE Capital, Japan. Along with Chairman and CEO Franklin Raines, and Vice Chair Jamie Gorelick, Mudd will be positioned in the Office of the Chairman.
Quinn Barton, a commercial mortgage trader with Greenwich Capital Markets Inc., has left the company. No additional information was available at press time.
The Bond Market Association has promoted John R. Vogt to executive vice president, from senior vice president as head of the Association's Washington office. Additionally, the Association promoted George Miller, deputy general counsel, to senior vice president from vice president. Miller will supervise the management of the Mortgage and Asset-Backed Securities Division and the Corporate Bond Division, as well as take on a wider range of management duties within the legal and regulatory department.