RMBS

JP Morgan is planning to issue a $616 million private label residential mortgage securitization, according to a presale report from Fitch Ratings.

Greater use of credit bureaus by Russian originators is a credit positive for securitizations in that country.

The catalysts were changes in the models used by Fitch, adverse selection in older mortgage pools, and the sovereign crisis in Europe.

Standard & Poor’s lowered ratings on 145 classes from 72 U.S. RMBS transactions that are insured by MBIA Insurance Corp. following the bond insurer’s Feb. 28, downgrade.

Moody’s Investors Service today placed 60 tranches of securitizations on review for downgrade in the economically beleaguered countries of Spain, Italy and Ireland.

Redwood Trust is preparing its fourth private-label residential mortgage backed securitization, according to a presale report published today by Fitch Ratings.

Moody’s Investors Service has changed how it incorporates sovereign risk into structured finance transactions.

A lawsuit filed yesterday against Nationstar Mortgage LLC aims to stop the servicer from future auctions of mortgage notes of delinquent loans backing residential mortgage securities via the website www.auction.com.

Vericrest Financial announced that former Nationstar vice president of production and securitization veteran, Joe Anderson has been appointed Chairman and Chief Executive Officer, effective immediately.