RMBS

Despite recent reports of people changes at some of Wall Street's biggest players in the securitization market, finding work, even for experienced hands, is still no easy task.

After the Japanese crisis, CMBS secondary market activity was the most impacted versus all other securitization sectors, experts said.

For 1Q11, U.S. public ABS issuance reached $13.62 billion, according to preliminary figures from the ASR Scorecards database. This is an increase from a year ago when industry volumes reached only $9.4 billion

As the structured finance market struggles to make sense of myriad new rules stemming from the Dodd-Frank Act, it's become clear that rating agency reform initiatives from the regulators have largely been put on hold.

Ally Financial has filed a registration statement with the Securities and Exchange Commission for an initial public offering to sell common stock held by the U.S. Department of the Treasury.

Mortgage rates crept higher for the second week in a row and, while still historically attractive, will likely have some adverse impact on mortgage application activity.

Certain effects of the economic downturn have begun to ease, but one recession-hatched trend persists: Cash-strapped consumers continue to show a preference for paying their credit card bills over their mortgages, TransUnion said.

Commonwealth Bank of Australia issued a new AUD1 billion ($1.03 billion) prime RMBS from its Medallion trust series.

Top Republicans on the House Financial Services Committee clashed with Elizabeth Warren, who is leading the Consumer Financial Protection Bureau (CFPB) creation, over her role in the mortgage servicer settlement.

The New York City Comptroller's office, representing pension funds that own shares in Bank of America Corp., wants the bank's board to review the company's controls for loan modifications, foreclosures and securitizations.