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New proposals for updating the Basel II framework would impact structured finance globally and the ABCP market in particular, according to Fitch Ratings.
February 18 -
The December TIC data showed that overseas investors were net sellers of $37.5 billion agency bonds (agency debentures combined with agency MBS) over the month.
February 18 -
Fannie Mae and Freddie Mac have joined several major banks in declaring a foreclosure moratorium, a move designed to give President Barrack Obama's administration a few weeks to roll out its homeowner retention plan.
February 17 -
The head of European leveraged credit trading for Morgan Stanley has resigned.
February 17 -
The Office of the Comptroller of the Currency (OCC) and the Office of Thrift Supervision (OTS) are expanding the scope of the mortgage performance data derived from national banks and thrifts to include additional information on the affordability and sustainability of loan modifications.
February 17 -
European catastrophe insurance data will be more accessible after the recent launch of two new products from the Zurich-based PERILS AG.
February 17 -
Broadpoint Capital, a broker-dealer subsidiary of Broadpoint Securities Group, has tapped a trio from RBS Greenwich Capital for its rate group and sales and trading team.
February 17 -
Fitch Ratings has removed IndyMac and reverse mortgage lender Financial Freedom from its "rating watch evolving" list and upgraded its servicer ratings on IndyMac.
February 13 -
MGIC Investment Corp., the nation's largest mortgage insurer, said it will still cover broker-sourced loans but come March 9 will eliminate other products from its menu, including cash-out refinancings.
February 13 -
The House approved the final version of a $787 billion economic stimulus bill Friday on a vote of 246 to 183. The Senate is expected to vote later Friday.
February 13 -
Without a home on the domestic side, European commercial paper (ECP) investors have increasingly found shelter in the U.S.
February 13 -
Fitch Ratings' recent moves on a handful of Russian ABS and MBS - most of which were decidedly negative - have raised the spotlight on Transfer & Convertibility (T&C) risk in the country.
February 13 -
By any measure, RMBS issuance slowed dramatically in Mexico in 2008. In a recent report, Moody's Investors Service estimated volumes hit Ps35.4 billion ($2.4 billion) in 2008, from Ps30.0 billion the previous year. While 18% growth is hardly something to sneeze at, it's a sharp drop in velocity from 2006-2007. Issuance in that more ebullient period rose 61%, according to a report from IXE.
February 13 -
Moody's Investors Service predicts in a report that overall issuance in Latin America will slip this year from the $19.5 billion the agency estimated for 2008. Propped by growth in the region's domestic market, last year's figure marked a slight 2% growth from 2007. Domestic market volumes made up 85% of the total from Latin America.
February 13 -
With the securitization markets currently broken, market participants are trying to find their way through the crisis and pick up the pieces. This was evident in last week's American Securitization Forum (ASF) gathering held in Las Vegas.
February 13 -
MBS volume was average into midweek with hearings in Washington, the announcement of a new financial aid plan, a Senate Stimulus Bill vote and the American Securitization Forum conference held in Las Vegas providing distractions.
February 13 -
Chapman and Cutler hired Kenneth Marin to be part of its recently opened New York City office. Marin is a partner in the firm's asset securitization practice. Marin has represented issuers, underwriters, investors and credit enhancers in securitization deals involving a diverse array of performing and distressed assets. He also has a substantial derivatives practice and helped pioneer the use of covered bonds in the U.S. Marin was previously at McKee Nelson, where he was a partner in the corporate finance department and co-head of the firm's covered bonds team.
February 13 -
For three weeks now, better sentiment has prevailed in European ABS secondary market trading, where spread widening has stopped and triple-A spreads have tightened at a rapid pace.
February 13 -
Treasury Secretary Timothy Geithner's announcement of his Financial Stability Plan created a buzz at last week's American Securitization Forum conference - ASF 2009 - held in Las Vegas.
February 13 -
Manager Activity: AutosFull Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market
February 13
