ABS

The New York Stock Exchange (NYSE) has given Ambac Financial Group 10 days to respond to a notice issued late Wednesday warning the bond insurer it could be delisted for failing to maintain a minimum share value of $1.00 for the 30 trading days ending Dec. 8.

Over 759,050 struggling borrowers have received temporary mortgage payment relief under the Obama Administration's loan modification effort, but only 4.1% have succeeded in landing permanent modifications, according to a monthly progress report on the Home Affordable Modification Program (HAMP).

Congress has opened a new front in the battle over federal preemption — just as lawmakers reached a compromise on the original question.

The House approved dozens of changes late Thursday to the financial regulatory reform bill, including measures to enhance the Federal Reserve Board's power to break up large, complex firms and cap a potential debt guarantee program by the Federal Deposit Insurance Corp. (FDIC).

Citadel Investment Group's institutional markets head Peter Santoro recently stepped down from his duties, a source familiar with the situation told Investment Management Weekly yesterday.

Starwood Hotels & Resorts Worldwide yesterday completed a securitization involving the issuance of $166 million of notes by SVO 2009-B VOI Mortgage Corp.

Consultancy and software firm Risk Integrated released its Generalized Finance System, a Web-based risk measurement and reporting platform that allows banks to run stress tests more securely.

The Federal Deposit Insurance Corp. (FDIC) is expected to rule on two matters Tuesday stemming from new accounting standards for off-balance-sheet assets.

The Eaton Vance Limited Duration Income Fund and Eaton Vance Short Duration Diversified Income Fund, both closed-end investment funds, have been authorized to participate in the Term Asset-Backed Loan Facility (TALF) beginning Dec. 14.

The fair value (FV) of loans at major U.S. banks relative to their carrying amount dipped along with the beginning of the recession in 2007, Fitch Ratings said in a new report.

Moody's Investors Service's latest CMBS Delinquency Tracker (DQT) reported that the aggregate rate of delinquencies among CMBS conduit and fusion loans is at 4.47%. The results are based on the data through the end of November.

Calyon has hired a Citigroup veteran as its head of loan syndication sales and trading for the Americas, the New York-based firm said today.

House and Senate appropriators are increasing the Department of Housing and Urban Development's (HUD) resources to combat mortgage fraud, update its technology, while increasing the Federal Housing Administration's (FHA) lending capacity to $400 billion.

HOPE NOW launched a new web portal allowing Department of Housing and Urban Development (HUD)-approved housing counseling agencies to submit completed Home Afforable Modification Program (HAMP) applications for borrowers at-risk of foreclosure.

Mortgage rates moved off their record lows this week, according to Freddie Mac's weekly survey.

Friesland Bank is planning to sell bonds backed by prime Dutch residential mortgages, according to market reports.

The International Association of Credit Portfolio Managers (IACPM) has re-elected Mark Hughes, global head of credit at RBC Capital Markets, as its chairperson, and Sean Kavanagh, global head of loan exposure management at Deutsche Bank, as vice chairperson. The pair will serve one-year terms through the end of 2010.

Fitch Ratings will be rating the Pennsylvania Higher Education Assistance Agency (PHEAA) Series 2009-1 FRN student loan ABS notes, Series 2009-1.

The U.K. Debt Management Office (DMO) and the London Stock Exchange appointed Jefferies International as a Gilt-edged Market Maker (GEMM).

Data due out today from RealtyTrac shows foreclosure filings fell 8% in November from October but were still up 18% from the year earlier.