ABS

After a month’s long worth of hoopla and mudslinging, DoubleLine Capital issued its response today to The TCW Group’s January allegations that CEO Jeffrey Gundlach and his fellow employees breached their fiduciary duties and hurt the firm.

Nelnet is in the market with a $523.3 million FFELP-backed deal called Nelnet Student Loan Trust 2010-1.

Bryant Park Funding, a partially supported, multiseller ABCP conduit administered by HSBC Securities, has added a $100 million trade receivables facility to its portfolio, according to Moody’s Investors Service.

Carlton Group said it is auctioning $257 million of first mortgages on a variety for commercial properties for "a major financial institution" that the investment bank did not identify.

The Commercial Mortgage Securities Association (CMSA) said in a press release that it supports Comptroller of the Currency John Dugan’s stance on the need for a vital and robust securitization market.

ING Alternative Asset Management, a unit of ING Investment Management, has been appointed as the successor collateral manager for three CLOs previously managed by Avenue Capital Management II.

The Federal Reserve has had a tremendous influence on the agency mortgage market over the past year. For example, it owns a significant portion in lower coupons and in conventionals — especially FNMAs, and just a small amount of GNMAs (9.1% of their portfolio).

A new total return swap (TRX) index based on three new CMBS deals could provide a mechanism for loan originators to hedge loans, and would also attract investors, NewOak Capital said.

The now-profitable UBS still faces at least a couple of challenges that date back to its involvement in the U.S. subprime mortgage space, but is seeing some funding diversification benefits from a new Swiss residential mortgage covered bond program.

Wells Fargo is actively marketing a $416 million portfolio of nonperforming payment option ARMs — legacy loans it inherited when it bought Wachovia Corp. last year.

The American Council of Life Insurers' (ACLI) call for a ban on life settlement securitizations has been met by some opposition that believes closing this segment of the market could hurt consumers.

Dutch-based SNS Bank is the latest bank to publicly place a previously retained deal. After some restructuring that saw the spread raised to 115 basis points from 38 basis points, the bank sold the senior tranche off its Hermes XIV Dutch RMBS.

The Co-operative Bank has delivered the second U.K. RMBS of the year via its Silk Road Finance 1. The new series will issue a maximum of ₤2 billion ($3.13 billion) of RMBS notes.

A restructuring proposal was released for the troubled European CMBS transaction Fleet Street Finance Two where, among other changes, the maturity date of the single underlying loan and the legal final of the transaction would be extended by three years to 2017.

Lenders originated $86.1 billion in Federal Housing Administration (FHA)-insured single-family loans in the fourth quarter, up 21% from same quarter in 2008.

Senate Banking Committee chairman Christopher Dodd, D-Conn. said his talks with the ranking committee Republican have reached an impasse and he wants to move ahead with financial regulatory reform legislation.

Lewtan Technologies, provider of ABSNet, is moving its corporate headquarters to a new location, which will have an open floor plan.

Broker dealer BTIG has added two traders and a sales executive to its high yield and distressed group, it announced today.

Fourth quarter earnings data offered some worrisome news for banks' support of the mortgage market once the Federal Reserve ends its MBS purchases, Deutsche Bank Securities analysts said.

CIT Group's board of directors has selected John Thain, the former chairman and chief executive of Merrill Lynch, as its chairman and CEO, effective immediately.