ABS

Chase is in the market two credit card deals.

REDC of Irvine, which has been doing a swift business in selling distressed homes, plans to enter the whole loan auction market, focusing on non- and sub-performing mortgages, and other note types.

PIMCO Advisory has hired Rod Dubitsky as an executive vice president and global structured finance specialist, the firm said in yesterday's release.

Chrysler Financial has repaid in full the $1.5 billion of Troubled Asset Relief Program (TARP) government loans.

The American Securitization Forum (ASF) issued a request for comment (RFC) on its new Model RMBS Representations and Warranties, which is designed to enhance the alignment of incentives of mortgage originators with those of mortgage loans buyers.

James Fenner was named the new head of capital markets for GE Capital in EMEA.

Kathleen Riorda has joined One William Street Capital as a managing director and head of business development.

Fitch Ratings said today that it is too early to identify 'green shoots' of recovery in European structured finance performance, despite signs that the global economy is stabilizing.

Standard Life Investments appointed Michael Geier as investment director of Germany and Austria in its European business development team.

A delay in approval from the Federal Deposit Insurance Corp (FDIC), the Treasury Department and Federal Reserve has left CIT in financial limbo, and potentially on the road to bankruptcy, as of Tuesday.

The Commercial Mortgage Securities Association (CMSA) today issued a White Paper that outlines its opposition to REMIC regulatory proposals specifically aimed at loan modifications, which require the restructuring of contracts for commercial real estate loans.

Starting September 1, 2009, Moody's Investors Service will withdraw the ratings on structured finance securities insured by guarantors that have financial strength ratings below ‘Baa3’ if either of two conditions are met: Moody's is unable to determine an underlying rating (i.e., absent consideration of the guaranty) on the security or the issuer has requested that the

Jefferies & Co. has hired Lisa Pendergast as a managing director in the MBS/ABS/CMBS group of the fixed-income division. Her responsibilities will include strategy and risk for CMBS, as well as strategy for other structured commercial and multifamily real estate products.

The Barrent Group has announced a new service offering for RMBS bondholders that will assist them to recover losses resulting from buying into RMBS pools, the group said in today’s release.

The European Commission's new revisions of its EU rules on capital requirements for banks will impose higher capital requirements for resecuritizations and propose stronger disclosure requirements for securitization exposures.The revision will also require banks to have sound remuneration practices that do not encourage or reward excessive risk-taking.

A Ukrainian banking law amendment might impact ABS exposure securitizing foreign currency denominated exposure, said analysts at Moody’s Investors Service.

Treasury secretary Timothy Geithner is pressing mortgage servicers to expand their capacity and improve their loan modification efforts so the President's efforts to help struggling homeowners and stabilize the housing market will be successful.

Freddie Mac has slashed its origination forecast for the third quarter by $265 billion mainly due to a drop off in refinancings.

Raising the loan-to-value ratio on refinances of underwater mortgages to 125% could help 2.25 million Fannie Mae and Freddie Mac borrowers lower their monthly payments, according to analysts at Amherst Securities Group.

Ginnie Mae issued $43.6 billion in mortgage-backed securities in June, up from the previous record of $39 billion in May, as issuance during the first six months of this year has nearly doubled from a year ago.