ABS

Bank of America issued the first reverse mortgage REMIC via Ginnie Mae, according to The Reverse Mortgage Alert, which is a publication from DealFlow Media.

Buyout-driven prepayments on agency MBS with coupons of 6% or higher could accelerate this year.

Even as Senate Banking Committee Chairman Chris Dodd announced his plan to retire, speculation began over how his probable successor, Sen. Tim Johnson, would handle the tricky issues the panel is likely to face next year.

The Federal Reserve is on track to end its $1.25 trillion MBS purchase program by the end of this quarter, but a minority of Fed officials would be in favor of resuming buying if market conditions warrant.

Matrix Corporate Capital (MCC) completed the first stage of its fixed-income build up by hiring senior team leaders in sales, trading and origination.

After four weeks of steady increases, mortgage rates have eased as 2010 got underway.

Conyers Dill & Pearman hired Tara Rivers for its Cayman Islands office.

The asset manager TCW Group has begun the liquidation process of its $356 million in Public-Private Investment Program (PPIP) funds, the Treasury Department said Wednesday.

Ford Motor Credit Co. priced its upsized auto floorplan ABS this morning. The deal was increased to $1.341 billion from $591.1 million.

GMAC Financial Services has written down the value of the riskiest mortgage assets of its mortgage division by 41%, a move that could be a precursor to a sale of the unit.

A Standard & Poor's review of 15 U.S. subprime transactions issued between 1998 and 2004 has ended with lower ratings on 48 classes from 14 transactions.

Refinancing activity plunged in the final two weeks of 2009 due to a jump in mortgage rates and consumers being distracted by the holidays.

The International Derivatives Clearing Group (IDCG) board of directors appointed Garry N. O’Connor as CEO of IDCG.

In continuing its hiring spree from last year, the roster for Jeffrey Gundlach’s bond investment management firm has continued to grow in size thanks to a multitude of departures at The TCW Group.

Despite an increase in home sales, the housing market continues to face "strong" headwinds due to tight credit conditions and high foreclosure rates, according to Federal Reserve governor Elizabeth Duke.

A recently finalized rule from the Federal Housing Finance Agency (FHFA) will likely translate into new members for the Federal Home Loan banks, but is not expected to contribute greatly to the system's bottom line.

Tidewater Finance Co. is in the market with a $115.3 million auto ABS deal called Tidewater Auto Receivables Trust 2010-A. The offering is led by BB&T Capital Markets.

Fitch Ratings launched its Basel II supervisory formula approach (SFA) tool that calculates capital charges on a set of unrated tranches of standard securitizations.

GMAC Financial Services — which is considering selling its troubled residential division — said it will take $3.8 billion of mortgage-related charges in the fourth quarter.

Assured Guaranty named Nicholas Proud senior managing director, international. He will head the company’s international credit enhancement business.