ABS

BNP Paribas launched two new capital guaranteed funds for French retail investors, Tie Break 3 and Tie Break 5, according to market reports.

The Spanish SME loan securitization sector continues to deteriorate at an accelerating pace as a result of the weak macro outlook and the intense pressure on Spain’s housing and construction businesses, according to Merrill Lynch research.

The securitization process that led to the subprime meltdown has been "absolutely discredited" and retention of a portion of the credit risk is one way to reform the mortgage market, according to a Senate Banking Committee staffer.

The Federal Reserve expanded its purchases of GSE MBS by $750 billion in March to sustain the refinancing boom and keep mortgage rates low, according to the minutes of the last Federal Open Market Committee (FOMC) meeting.

Cabela priced a credit card transaction, the class A of which is Term Asset-Backed Loan Facility (TALF)-eligible.

The Department of Justice (DOJ) is moving closer to forming a national mortgage fraud task force to investigate and prosecute real estate and mortgage related crimes, according to government officials familiar with the matter.

The House Financial Services Committee might hold a hearing before it moves to mark up and vote on a major regulatory bill that would restrict subprime mortgage lending and lender compensation.

Changes in how banks and financial institutions value securities on the heels of new accounting rules likely won’t bring about changes in their ratings, Standard & Poor's said Wednesday.

Alpha Natural Resources completed an accounts receivable securitization program, which is authorized for up to $85 million of funding, according to a release from the company.

iServe Servicing, a wholly-owned subsidiary of National Asset Direct, hired Richard Cimino as CEO.

The International Finance Corp. (IFC) has helped establish the first residential property system in Azerbaijan, which should foster the development of the local mortgage market.

Ginnie Mae said that it has issued a record $34.5 billion in MBS in March, which brings its total to $89.7 billion in 2009, compared with $38.9 billion for the first three months of 2008.

Morrison & Foerster Wednesday said it has created a dedicated group to represent real estate companies, anticipating a wave of business related to the industry’s growing need for liquidity and deleveraging.

Allen & Overy has advised the U.K. Department for Business, Enterprise and Regulatory Reform (BERR) on the first guaranty documentation to be signed as part of the government's £10 billon ($14.7 billion) working capital guaranty scheme.

In its quarterly performance update on European CMBS, Fitch Ratings said that default at loan maturity remains the major risk in the sector.

The Federal Reserve Bank of New York said Tuesday that it lent $1.7 billion through the Term Asset-Backed Securities Loan Facility (TALF), dramatically less than the $4.7 billion it distributed when the program launched last month.

A credit card and two auto Term ABS Loan Facility (TALF)-eligible securitization deals priced today.

docGenix and Markit announced a strategic initiative combining docGenix’s inSight analytics service with Markit’s document management platform.

Tension is evident in the mortgage servicing industry as federal regulators along with state lawmakers and consumer protection groups are coming after servicers, according to speakers on the legislative roundup panel at the SourceMedia Mortgage Servicing Conference in Dallas.

Standard & Poor's issued a report stating that the rating agency expects additional downgrade risk for recently issued CMBS.