ABS

After Citibank priced two credit card offerings on Friday, Chase is following suit by coming to market with a card deal.

Ambac Financial Group announced Friday it is delaying its planned launch of muni-only bond insurer Everspan Financial Guaranty Corp.

The 105% loan-to-value ratio limit on Fannie Mae and Freddie Mac's program to refinance underwater borrowers could be raised to increase participation, according to the GSEs' regulator.

The United Kingdom's Council of Mortgage Lenders has reduced its forecast for foreclosures this year to 65,000 from 75,000.

The Senate has confirmed Herbert Allison by voice vote to be a Treasury assistant secretary and run the Troubled Asset Relief Program, which is providing loans and capital to stabilize banks, insurance companies and automakers.

Several collateralized loan obligations, totaling approximately $1 billion, have been sold to buyers in the Europe and in the U.S., according to Dow Jones.

Credit card delinquencies declined in May for the second month in a row to 5.7% on the Bankcard ABS index, according to JPMorgan Securities’ June 15 Credit Card ABS Monthly Update.

Federal Housing Finance Agency Director James Lockhart was quoted saying that the GSEs are studying plans to raise the LTV ceiling under the Obama refinance plan to 125% from 105%. However, JPMorgan Securities analysts said that raising the LTV will only marginally affect the number of people opting to refinance.

Skip Wells has joined the Global Investment Management team at GE Capital Real Estate as a fund manager for senior secured debt investments, the firm has announced.

The Group of North American Insurance Enterprises (GNAIE) has joined a new coalition of trade associations that will engage the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) to reform accounting standards as a way to address the financial crisis.

Two deals from Citibank Credit Card Issuance Trust priced on Friday.

Moody’s Investors Service noted that the Chapter 11 filing for Extended Stay America is unusual because the disintermediation of the trust structure has been made by individual certificate holders directly pitching their economic interests to a bankruptcy court.

Assured Guaranty Ltd. announced Thursday night that it had agreed to sell 38.5 million of common shares at $11 per share to raise $423.5 million it will use to finance its acquisition of Financial Security Assurance Holdings Ltd.

Three credit card deals are currently in the market — two from Citibank, led by Citigroup Global Markets, and one from First Financial Bank USA.

Ambac Financial Group announced today it is delaying its planned launch of muni-only bond insurer Everspan Financial Guaranty Corp.

The Obama Administration expects Fannie Mae and Freddie Mac to continue playing a key role in housing finance, the government sponsored enterprises' regulator said.

Lawmakers picked apart virtually every element of the Obama administration's regulatory reform plan during a hearing Thursday, but there was one question that dominated: Would it really prevent another financial crisis?

Can an extra $10 in disposable income determine the success or failure of a loan modification application?

Securitizations of consumer loans have rebounded, but whether the business can outlast the government sweeteners that have lured investors back to the market is an open question.

Managing a loan portfolio these days may feel like a roller coaster ride with no seatbelt. In the past six weeks, the car has been inching up the incline, along with secondary loan prices and the number of repayments. However, market participants believe the loan market is about to take another plunge.