ABS

The enactment of the Student Aid and Fiscal Responsibility Act of 2009 (SAFRA) would mean the elimination of the Federal Family Education Loan Program (FFELP), according to Bank of America/Merrill Lynch analysts.

Freddie Mac reported modest increases in fixed rate mortgage rates for the week ending July 23.

Just more than a month after President Obama unveiled it, an ambitious plan to reform the regulation of the financial system is being eviscerated.

The Student Loan Corp. priced a $1.9 million FFELP-backed student loan deal. Citigroup Global Markets was the manager on the offering, while Deutsche Bank Securities served as co-manager.

The Commercial Mortgage Securities Association (CMSA) issued a white paper today on the White House’s overall regulatory reform proposals with five issues of concern for the CMBS market.

The Commercial Mortgage Securities Association (CMSA) held a Webinar yesterday discussing the state of the commercial mortgage industry. Participants also offered opinions on current government finance programs.

Jack DiMaio has been appointed as the global head of interest rate, credit and currency trading at Morgan Stanley.

Standard & Poor's Fixed Income Risk Management Services and the American Securitization Forum are creating a loan identifier and mortgage loan repository.

Morgan Stanley took $700 million of losses on real estate during the second quarter, when it took a net loss overall of about $1.2 billion.

RMBS broker dealer Amherst Securities Group hired Charlie Ulmer as an MBS salesperson. Ulmer, who joins Amherst after spending the last 15 years at RBS Greenwich Capital, is based in the firm's Greenwich, Connecticut office.

House Financial Services Committee Chairman Barney Frank said Tuesday that he will postpone next week's planned vote on legislation to create a consumer protection agency until after the August recess.

The House Committee on Education and Labor voted 30 to 17 Tuesday for a bill that would effectively end for-profit student lenders' participation in federally subsidized and guaranteed student loans.

The Obama administration has sent a legislative package to Capitol Hill that strengthens supervision of credit rating agencies and improves disclosures about the risks of structured mortgage-backed securities.

Allonhill is having a job fair at their brand new headquarters in Denver, Colorado this Friday, July 24 and Saturday, July 25, according to the risk management firm.

Moelis and Co. hired Yadin Rozov as the managing director in the risk advisory group. He will be based in New York.

Jefferies & Co. hired Mark Plansky as a managing director and head of its MBS/ABS/CMBS group in Boston.

Mortgage bankers are experiencing a dramatic increase in new servicing hires and loss mitigation staff in order to handle the tidal wave of delinquencies sweeping the nation.

The Federal Deposit Insurance Corp.'s experiment in modifying loans at IndyMac Bank is still showing good results in terms of keeping borrowers in their homes with a low redefault rate of less than 16%.

Freddie Mac has named Charles "Ed" Haldeman Jr., a former mutual fund executive, its new chief executive office, effective this August.

After announcing it had downgraded approximately 500 tranches of 93 U.S and European CLOs, Moody’s Investors Service said Monday that the majority of top-rated CLO tranches are in danger of losing their triple-A rating.