ABS

The cost to service residential mortgages is rising significantly, according to preliminary research conducted by the Mortgage Bankers Association (MBA).

New York Mortgage Trust (NYMT), a real estate investment trust that securitizes prime residential mortgages, has invested $9 million in the Cratos CLO I, marking its first foray into alternative investments.

Continuing its recent spate of high-level hires, RBC Capital Markets said Tuesday it has brought on John Case, the former co-head of Americas real estate investment banking at UBS, as a managing director to co-lead the mid-market bank’s U.S. real estate banking group.

Maxim Group hired four fixed-income professionals for its structured credit sales and trading group.

Many investors have been moving up in coupon for quite some time given the attractive carry and muted prepayment speeds resulting from credit impairment.

A new €243 million ($320 million) collateralized bond obligation pool open to French regional not-for-profit hospitals began marketing last week.

Herbert Allison's expected move from Fannie Mae's executive suite to the Troubled Asset Relief Program (TARP) is raising questions about how the Obama administration views the top positions at the government-sponsored enterprises.

Bank of America (BoA), which releases first quarter earnings shortly, is facing more writedowns on its Countrywide Financial Corp. (CFC)-related mortgage holdings, according to a new report from Credit Suisse.

Servicer guidance along with the net present value (NPV) test for the Obama administration's new loan modification program will be issued "very soon," according to Federal Housing Finance Agency director James Lockhart.

An affiliate of Ellington Fund Management, an Old Greenwich, Conn.-based hedge fund specializing in mortgage bond investments and CDOs, plans to go public, the company said in a statement on Tuesday.

The White House is contemplating naming Fannie Mae CEO Herb Allison to head the government's $700 billion Troubled Asset Relief Program (TARP), according to press reports and sources familiar with the situation.

Moody’s Investors Service Monday night cut Ambac Assurance Corp.’s rating to junk status, downgrading the bond insurer to 'Ba3' from 'Baa1'. The outlook is developing.

The Mortgage Bankers Association (MBA) appointed Michael Fratantoni as vice president of single family research and policy development.

USAA Federal Savings Bank is in the market with an auto ABS deal USAA Auto Owner Trust 2009-1 led by Banc of America Securities and JPMorgan Securities.

U.K. mortgage lender Abbey National said it plans to outsource elements of its residential mortgage collections to Westcot Credit Services.

The Bank of England’s (BoE) monetary policy committee voted to continue with BoE's Asset Purchase Program, which was announced on March 5 and has asset purchases totaling £75 billion ($111 billion) financed by the issuance of central bank reserves.

Robert Bell and Robert Palache have launched a new real estate business venture called Bell Capital Partners.

Bond insurer Syncora Guarantee will temporarily suspend claims payments on April 26 if it does not complete transactions to reduce its structured finance exposures and meet its minimum required policyholders' surplus.

DBRSreleased an updated methodology for rating U.S. RMBS that combines the previously published individual RMBS methodologies as well as related updates on default frequency, loss severity, cash flow and net interest margin securitizations.

Even though it appears that loan applications and fundings swelled in the first quarter of this year, 2008 was one of the bleakest ones on record with all of the nation's top ranked firms suffering, according to a new annual tally by National Mortgage News (NMN).