ABS

Moody's Investors Service will be publishing a series of reports that will detail its views on

Already a flash point of controversy over its online bank's high deposit rates and negative advertising, GMAC is now ruffling feathers by cutting back on disclosures about its troubled mortgage arm.

Though fears linger that regulators are letting banks kick problems down the road, most observers say guidelines released last week that outline ways to modify commercial real estate loans gave banks much-needed clarity for handling troubled credits and would ultimately prove beneficial.

The 30-year fixed mortgage rates fell back below 5% for the week ending Nov. 5, the first time since Oct. 15 when they averaged 4.92%.

BNP Paribas announced appointments to its fixed income business in New York.

Boston Portfolio Advisors (BPA) named Thomas Glanfield to succeed Scott Calahan as president and chief executive officer.

USAA Federal Savings Bank is in the market with a $1 billion auto transaction called USAA Auto Owner Trust 2009-2. The lead managers on the offering are Barclays Capital and Credit Suisse.

This month's Term ABS Loan Facility (TALF) subscription saw fewer transactions versus last month.

In a report released yesterday, FTN Financial, analysts discussed their expectation regarding the GNMA market and GNMA/FNMA relationship in the 1H10.

Fitch Ratings has placed 58 classes from 13 commercial real estate CDOs containing a concentration of 2005 vintage CMBS urities on Rating Watch Negative.

The mortgage division of GMAC Financial Services lost $747 million in the third quarter — thanks in part to loan repurchase liabilities — but its performance was a marked improvement over a $2 billion loss in the same period last year.

Moody's Investors Service has introduced additional information to its ABS and RMBS performance overviews in the Europe, Middle East & Africa (EMEA) region.

The level of arrears in U.K. nonconforming RMBS transactions has stabilized, Fitch Ratings said.

Tullett Prebon, an interdealer broker, and Calypso Technology, a global application software provider to the capital markets industry, will be launching the TP Correlation Service.

Guggenheim Capital Markets, a division of Guggenheim Partners, added three senior professionals to the fixed income rates trading group.

Telemetry Investments, a New York-based hedge fund that has been investing in non-performing residential loans, is reportedly leaving the space.

The Collingwood Group — recently launched by former Ginnie Mae president Joe Murin — is expanding into asset management and has hired industry veteran Jim Russell to head the new group.

Approximately $6 billion in consumer-loan-backed ABS participate in the Term ABS Loan Facility's (TALF) November subscription date.

Moody's Investors Service said today that it the ratings currently assigned to notes issued by Cherry Creek CDO II, will not, at this time, be reduced or withdrawn just because of the appointment of Princeton Advisory Group as the replacement collateral manager.

NewOak Capital appointed Jay Lown as managing director and senior member of the financial institutions group.