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Global Tower Partners (GTP) has a cell tower transaction in the CMBS market. This is an issuance of notes that are backed by mortgages representing no less than 80% of the annualized run rate net cash flow, according to a presale report by Fitch Ratings released.
February 5 -
Auto deals, both Term ABS Loan Facility (TALF)-eligible and not, have been giving the ABS market some life.
February 5 -
An unidentified hedge fund has agreed to buy a $400 million portfolio of nonperforming residential loans from Citigroup, according to vulture fund investors that play in that market.
February 5 -
The Federal Trade Commission is proposing a ban on companies being able to charge consumers upfront for loan modification services.
February 5 -
GMAC's chief executive Michael A. Carpenter sought to reassure investors — as his predecessor Alvaro de Molina did before him — that the bleeding at its Residential Capital (ResCap) has stopped.
February 5 -
Allan R. Toole, previously portfolio manager at TCW and head of the firm's portfolio analytics group, is now chief risk officer and head of product development at DoubleLine Capital,
February 5 -
Matt Vernon was named short sale and REO executive for Bank of America Home Loans, moving to the loan servicing division from his role leading origination and cross-selling efforts.
February 5 -
Prepayments were expected to decline 8% on 30-year FNMAs and by 26% on GNMAs. Factors contributing to these expectations were a lower number of collection days — 19 versus 22, while the Refinance Index was 10% lower on average in December from November.
February 5 -
U.S. commercial property could be the cause for a new subprime crisis from 2010 onward, warned a research note published by Switzerland-based Investment24 Research.
February 4 -
The Federal Reserve intends to end its $1.25 trillion MBS buying program at the end of March, but if the problems resurface, the program will be restarted.
February 4 -
Moody's Investors Service will not issue new ‘Aaa’ ratings to Greek structured finance transactions or covered bonds until it concludes a review of these deals.
February 4 -
Highland Capital Management, an investment management firm based in Dallas, Texas, completed its CLO Value Fund I and that the fund has provided 138% gross
February 4 -
Finacity Corp. together with Norddeutsche Landesbank Girozentrale facilitated a upsizing to $55 million of CHC Helicopter's European trade receivables securitization.
February 4 -
Residential Capital Corp. — which is on the auction block — posted a $4 billion loss in the fourth quarter after reclassifying some of its troubled mortgages and being forced to repurchase loans from Fannie Mae and Freddie Mac.
February 4 -
The Securities and Exchange Commission (SEC) charged Boston-based State Street Bank and Trust Co. with misleading its investors regarding their exposure to subprime investments. At the same time, State Street allegedly selectively disclosed more complete information to specific buysiders.
February 4 -
Moody's Investors Service will be re-evaluating the assumptions it utilizes to rate auto lease deals that are exposed to EMEA residual value (RV) risk.
February 4 -
Mortgage rates bumped up slightly for most terms. However, they remained "relatively stable for a second week amid news of a strengthening housing market," said Freddie Mac Chief Economist Frank Nothaft.
February 4 -
It's still slow going for PennyMac Mortgage Investment Trust. The real estate investment trust, run by veterans of Countrywide Financial Corp., said this week that it lost money during its first full quarter of operations — and an auction for a failed bank's loan portfolio.
February 4 -
At the American Securitization Forum conference held in Washington D.C. this week, The Future of the GSEs panel speakers called for a well defined and consistent mission for Fannie Mae and Freddie Mac.
February 3 -
Flagging growing concerns on Capitol Hill that commercial real estate losses could threaten economic recovery, a bipartisan group of 79 House lawmakers sent a letter Monday to federal regulators asking them to strengthen efforts to address the situation.
February 3
