ABS

Invesco Mortgage Capital has completed its public offering of 900,000 shares of common stock, raising $187 million — cash that will be used for mortgage-related investments.

Fitch Ratings revised its rating criteria for U.S. auto lease ABS to reflect the residual value volatility seen over much of the last two years.

In a report from Trepp, the data provider said that the delinquency rate for CMBS commercial real estate loans continued to rise in April, although the rate of increase slowed compared with March's accelerated pace.

Standard & Poor’s and Experian together will be launching a series of consumer credit default indices.

Assured Guaranty Corp. (AGC) and Assured Guaranty Municipal Corp. (AGM) hired Gregory Raab as senior managing director, RMBS workout.

The 30-day delinquency rate on securitized multifamily mortgages fell slightly in April after a 332 basis point spike in March due to the default of the Stuyvesant Town and Peter Cooper Village project in Manhattan.

PennyMac Mortgage Investment Trust (PMT) started on a new securitization to provide additional capital and increase its investment capacity.

JPMorgan Chase and Ladder Capital Finance are prepping a CMBS worth $800 million in June, according to published reports.

After several quarters of horrendous losses, GMAC's residential mortgage division Residential Capital (ResCap) posted a small profit in the first quarter, but the company attributed the turnaround, in part, to the "extinguishment of debt."

A quarterly survey by two Chicago professors shows a dramatic increase in the number of "strategic defaults" where an underwater homeowner willingly defaults on his mortgage even though he can afford to make the payments.

DLA Piper hired Peter White, Charles Baker, Mark Whitaker and Katie Baynes as partners in the corporate and finance group.

GNMA technicals are expected to be favorable over the near term. In recent research, JPMorgan Securities analysts noted that CMO demand is taking out around 60% of the issuance, while overseas and domestic bank demand has been strong.

Finacity Corp. has extended a MXN 550 million ($44.8 million) variable rate investment grade bond for one of its clients, Vitro Envases Norteamerica (VENA), a 100% owned subsidiary of Vitro.

Fannie Mae has adapted new standards for buying and securitizing ARMs. The mortgage firm is changing eligibility criteria to protect consumers from potential dramatic payment increases, according to a press release from Fannie Mae.

On the heels of the first Jumbo mortgage securitization since the crisis, Citigroup is cranking up originations of such loans to meet resurgent demand from borrowers and investors.

CMBS pricing saw some unprecedented trading margins over the last several weeks, but market players said that the sentiment does not carry through to fundamentals.

The private-label Jumbo securitization from Redwood Trust called Sequoia Mortgage Trust 2010-H1 came to market last month, and that in itself is an accomplishment for a troubled mortgage securitization market.

April was not our market's finest moment. It may have been Goldman executives who were in the hot seat, but at times it was as if, yet again, securitization were on trial.

Founded in 1966, the Asian Development Bank has a mandate to reduce the poverty of its developing member countries (DMCs) and improve the quality of life of their people. It currently has 67 members. Those eligible for assistance must be DMCs and be located in the region under ADB's purview, which includes areas of the Pacific as well as Asia. In 2009, the bank disbursed $13.2 billion in loans, $1.1 billion in grants and $267.2 million in technical assistance.

The new-issue European market has remained active. In fact, according to Henderson Global Investors research, March was the first month since August 2007 that issuance in the European ABS primary market exceeded retained issuance, which comprises securitization issues retained by the originating bank for balance sheet liquidity or central bank repo purposes.