ABS

Securitizations of Spanish SME loans are facing trouble on two fronts: rising corporate insolvencies and new legislation on debt refinancing and restructuring.

The Structured Finance Industry Group wants more time to evaluate proposed revisions to rules governing reporting and disclosure requirements for asset-backed securities.

New Residential Investment Corp., a real estate investment trust, is preparing to issue $1.96 billion of securities backed by mortgage servicing advance receivables.

The subprime credit card market, long down for the count, may finally be poised for a comeback.

George Canellos, the SEC’s former co-director of enforcement, has joined Milbank, Tweed, Hadley & McCloy as global head of the litigation department.

Regulation AB governs registration, reporting and disclosure requirements for all things asset-backed. The Securities and Exchange Commission appears to be ready to update it significantly, but, nearly four years after changes were originally proposed, it’s not clear exactly what the Commission will do.

View the year-to-date manager rankings through March 21 for the different ABS sectors, including real estate, credit cards, student loans, autos, and collateralized debt obligations.

While lawmakers continue to press regulators to exempt collateralized loan obligations from Volcker Rule restrictions, managers of these deals have found another workaround – and this one allows them to invest in bonds.

Managers and arrangers of U.S. collateral loan obligations have struggled to satisfy the European Union’s risk retention requirement. However, the final draft rules published by the European Banking Authority include a new concession that may assist U.S. managers in accessing an investor base in the region.

Dan Feshbach, founder and CEO of MeasureOne, thinks that disclosure of loan-level data can do for the student loan market what it did for mortgages.

The powerful storm surge produced by Hurricane Sandy has added momentum to the federal government’s efforts to farm out a portion of the risk now borne by the National Flood Insurance Program, and there appears to be a strong appetite in the private market.

The powerful storm surge produced by Hurricane Sandy has added momentum to the federal government’s efforts to farm out a portion of the risk now borne by the National Flood Insurance Program (NFIP), and their appears to be a strong appetite in the private market.

The Securities and Exchange Commission has tweaked its proposal for Regulation AG II to address consumer privacy concerns and requested public comment on the change

Ray Gatten is credited with developing the first peer-to-peer consumer loan securitization while at National Alliance Securities; Philip Toth is a veteran of the same firm. .

GreatAmerica Financial Services plans to issue a $423.25 million securitization backed by small ticket technology equipment leases and loans.

The European Banking Authority (EBA) is now a Permanent Observer of the Prime Collateralised Securities Association (PSCA), making it the first regulator with this status.

View the year-to-date manager rankings through Feb. 28 for the different ABS sectors, including real estate, credit cards, student loans, autos, and collateralized debt obligations.