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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 -
The American Council of Life Insurers (ACLI) recommended that life settlement securitizations be prohibited by legislation or regulation.
February 3 -
Fannie Mae and Freddie Mac will not become large buyers of MBS this year and will maintain plans to reduce their total asset size, according to a new letter from their regulator.
February 3 -
The Carlton Group has been retained on behalf of various CMBS trusts to sell roughly 66 nonperforming loan and REO assets worth $307 million and located throughout the U.S.
February 3 -
Jefferies has hired Sharif Anbar-Colas as its global head of CLO and CDO trading, an addition that is part of the firm's expansion of its fixed income business, the New York-based investment bank said today.
February 3 -
The consumer ABS space may have performed well through the worst of the crisis, but panelists discussing opportunities in non-mortgage ABS at the American Securitization Forum’s (ASF) 2010 gathering reminded its audience that uncertainty, fostered by new and potential regulations, could stand in the way of a more robust recovery.
February 3 -
Standard & Poor's said today that it may cut its ratings on $962 billion of RMBS as a result of deteriorating credit performance and upward revisions to its loan loss projections.
February 2 -
The rising Australian interest rates are expected to result in the deterioration of Australian structured finance asset performance during 2010, Fitch Ratings said.
February 2 -
Panelists at the American Securitization Forum’s (ASF) 2010’s mortgage modification session warned of two issues undermining government and private sector efforts to stem foreclosures and get the market re-started: negative equity and second lien mortgages.
February 2 -
Fitch Ratings said that the Greek draft law addressing household debt restructuring is likely to reduce recoveries and increase defaults in pools of Greek residential mortgages and consumer credits, potentially leading to negative rating action.
February 2 -
Finacity Corp., together with Norddeutsche Landesbank (NORD/LB), has facilitated the size increase to $55 million of a European trade receivables securitization for CHC Helicopter.
February 2 -
In a sure sign that covered bonds are coming into favor, the session devoted to the subject at ASF 2010 was standing room only. There was broad agreement among the panelists that for the market to take off there would have to be a legal framework, something that Rep. Scott Garrett (R-NJ) has been advocating for some time.
February 2 -
Comptroller of the Currency John C. Dugan said today that a robust securitization market is vital to funding the needs of consumers and businesses. He urged policy makers to focus reform efforts on improving underwriting standards rather than "skin-in-the game" risk retention proposals.
February 2 -
Government programs such as the Term ABS Loan Facility (TALF) have restored basic investor confidence in the ABS product, said panelists at the American Securitization Forum’s conference in Washington, D.C. this week.
February 2 -
The Federal Deposit Insurance Corp.’s (FDIC) Deputy to the Chariman for Policy Michael Krimminger said that the interim rule to extend the securitization safe harbor announced in November last year will most likely be extended beyond the March 31 end date.
February 2 -
Bad loans stopped soaring at large and mid-size banks last quarter, but whether the credit cycle has bottomed out or is just taking a breather might depend on the success rate for loan modifications.
February 1 -
George Miller, former executive director of the American Securitization Forum (ASF), has established his own consultancy and advisory firm, Auspex LLC.
February 1 -
Credit Suisse is arranging a $250 million deal securitizing diversified payment rights (DPRs) originated by Scotiabank Peru, the issuers debut in this asset class.
February 1
