ABS

In coming weeks, the Department of Housing and Urban Development (HUD) plans to lift the 1% cap on origination fees for Federal Housing Administration (FHA) mortgages, sources close to the agency said.

After several hours delay on Wednesday, House leaders conceded to pressure by moderate Democrat Rep. Melissa Bean, of Illinois, to broaden proposed powers of the Office of the Comptroller of the Currency (OCC) to preempt state consumer protection laws for national banks.

Standard & Poor's cut its ratings on 1,862 classes of RMBS backed by prime jumbo mortgages issued from 2002 through 2004.

Federal Reserve data reported this week showed that consumer debt continues to fall.

John Melvin will lead Goldman Sachs Asset Management’s (GSAM) insurance fixed-income asset management business as a managing director and head of insurance fixed-income.

As the House begins discussion of a massive regulatory reform bill tomorrow, preemption and haircuts for secured creditors are likely to provoke intense debate.

JPMorgan Chase has 140,000 borrowers in Home Affordable Modification Program (HAMP) payment trials, but only 16% have been approved (or ready to be approved) for a permanent modification, a Chase executive told Congress.

Low rates have led to adverse selection and performance deterioration in 2005 subprime residential MBS while low loan-to-value ratios have limited the prepayment concern for other recent vintages, according to a new report from Fitch Solutions.

The Treasury Department announced Wednesday that it would extend the Troubled Asset Relief Program (TARP) to Oct. 3, 2010.

The nation's top accounting regulator told banking supervisors Tuesday they are free to apply their own judgments to bank financial statements.

The Securities and Exchange Commission (SEC) on Tuesday slapped the now-defunct Brookstreet Securities Corp., Irvine, Calif., with civil fraud charges, accusing it of causing "substantial investor losses" on the sale of $300 million worth of CMOs.

Markit plans to launch a new credit derivative index that allows investors to protect against losses in U.S. prime mortgages, or bet on the deterioration in their credit quality.

Fitch Ratings has placed all its structured finance transactions in Greece on Rating Watch Negative (RWN) following the downgrade of the Greek sovereign ratings to 'BBB+'/ 'F2' with Negative Outlook.

The recent dismissal of TCW Group’s chief investment officer has triggered the Treasury Department to freeze the Public-Private Investment Program (PPIP) funds that TCW is in charge of, according to market reports.

Michael J. Schozer resigned Monday from his post as president of Assured Guaranty Corp. (AGC), a position he has held since December 2003, according to a company filing with the Securities and Exchange Commission on Tuesday.

Salene Residential Mortgage Opportunity Fund, which counts MBS pioneer Lewis Ranieri among its managing partners, has been identified as being the "stalking horse" bid on a portfolio of homes owned by the now-defunct Taylor, Bean & Whitaker (TBW) of Ocala, Fla.

House Financial Services Committee chairman Barney Frank, D-Mass., is adding a provision to his massive regulatory reform package that would provide $3 billion in relief for unemployed homeowners.

Standard & Poor’s lowered the rating on 78 tranches of Northern Rock's Granite RMBS following increases in arrears, repossessions and losses.

Investment firm Cohen & Co. Securities has launched a new leveraged finance business, the New York-based firm announced today.

Delta Lloyd’s Arena 2009-1 RMBS transaction saw good interest from a variety of European investors.