ABS

WestLB credit structuring head Darren Smith and Cross Point Capital Managing Director Pamela Winchie have written a book that introduces readers to the modeling of cash flow CDOs. The book is titled Cash CDO Modeling With Excel: A Step by Step Approach.

Investec is in the market with an automobile-backed deal called Impala Series No. 1 2010-1. The six-tranched offering is worth A$240 million.

Canadian Imperial Bank of Commerce (CIBC) is in the market with two card deals under its Cards II Trust, series 2010-1 and 2010-2. CIBC is serving as the lead underwriter on the deals.

Clayton Holdings, a risk analytics firm, said it has adopted new Fannie Mae promulgated quality control standards into its product offerings.

Published reports indicated that some of the banks and credit rating agencies that were subpoenaed by New York Attorney General Andrew Cuomo are willing to cooperate with his investigation. Cuomo's probe is looking into the propriety of these firms' relationships.

Federal Reserve Board Chairman Ben Bernanke has told three senators that a provision in the regulatory reform bill that would force banks to spin off their swaps trading desks would be "counterproductive."

While the odds of passage remain strong, the process behind the regulatory reform legislation is increasingly chaotic.

Mortgage executives are balking at what amounts to a souped-up Sarbanes-Oxley Act for servicers.

Royal Bank of Canada (RBC) is in the market with two Golden Credit Card Trust deals, series 2010-1 and 2010-2. The underwriter on the credit-card-backed transaction is RBC.

Hedge funds’ take on the wide array of new regulations being proposed for CDOs, credit default swaps and derivatives, in addition to taxes on risk retention, is simple: Bring it on.

Valex Consulting, a Philadelphia based application development and software consulting firm, has been hired to redevelop and enhance the Access Versalign's Access Channel software platform.

Standard & Poor's rocked the boat last month when it offered an unsolicited take on Redwood Trust 's private mortgage bond deal.

The Senate rejected a derivatives substitute Wednesday 59 to 39 that would have struck a prohibition that would force banks to spin off their swaps trading desks.

The Senate Wednesday evening approved by unanimous consent an amendment that will exempt "qualified mortgages" from the 5% risk retention provisions in the Wall Street Reform bill.

The 30-year fixed mortgage rates dipped below 5% for the first time since the end of March as expected.

Churchill Financial announced that Olympus Partners, a Stamford, CT-based private equity firm, has bought the asset management firm.

George Skelton joined Societe Generale Corporate & Investment Banking in New York this week as a director in its cross asset solutions group. He is coveringr institutional accounts for the distribution of structured credit products.

Thomas Fahey will be lending his global fixed-income expertise to Loomis, Sayles & Co. as a senior macro strategist, a new role at the firm.

A new report issued by the National Credit Union Administration (NCUA) on last year's failure of Eastern Financial Florida Credit Union (EFFCU) found that the one-time high-flying CU was brought down by risky investments in CDOs as well as loan losses and other concerns.

The Senate just rejected a Republican measure to eliminate a provision in the regulatory reform bill that requires ABS issuers to retain "skin-in-the-game," or take steps to ensure that their loans meet standards to reduce risk.