ABS

Freddie Mac reported its 30-year fixed mortgage rate slipped just two basis points to 5.10% this week, while 15-year fixed rates were unchanged at 4.80%.

The Pennsylvania Office of Attorney General said it has reached a $150 million settlement with Countrywide Financial Corp. to obtain mortgage relief and cash assistance for thousands of Pennsylvania residents with subprime loans sold through Countrywide.

Invesco PowerShares Capital Management has filed registration statements for two new actively managed ETFs focused on the non-agency, prime and Alt-A RMBS markets.

Rapidly deteriorating employment conditions are propelling losses on card receivables into unfamiliar territory.

London-based fund manager Threadneedle Asset Management hired five people from Babcock & Brown's ABS bond unit.

The Federal Housing Finance Agency (FHFA), which has just instituted a final rule on the dollar size of Fannie Mae and Freddie Mac's on-balance sheet holdings, also is seeking comment from the industry regarding what criteria should govern their holdings in the future once they return to health.

The Mortgage Bankers Association (MBA) is trying to get the Obama administration interested in a bifurcated refinancing program that the Treasury Department could implement using funds for the Troubled Asset Relief Program (TARP).

Cramdown legislation pending in Congress could cause a "substantial" surge in bankruptcy filings by consumers, including mortgagors who are currently paying their loans, according to a new report by Friedman Billings Ramsey (FBR).

Fannie Mae estimates it will ask the U.S. Treasury for $11 billion to $16 billion in funds to cover fourth-quarter losses and maintain a positive net worth.

Broadpoint DESCAP, the MBS/ABS security trading division of Broadpoint Capital, New York, has launched a new repurchase desk and expanded its structured products group.

The German finance ministry is still considering enlarging the support for the banking sector, according to market reports.

The impact of the continuing U.K. housing market downturn will have a minimal impact on the ratings of UK prime RMBS, said Fitch Ratings today in a report.

While remaining steadfast in their opposition to "cramdowns," the Mortgage Bankers Association (MBA) acknowledges that supporters are gaining momentum and the trade group has outlined parameters it would like to see included in legislation that would allow bankruptcy judges to reduce the secured portion of a mortgage loan.

Following its acquisition by Bank of America, Merrill Lynch has cut two top guys from its Asia-Pacific debt capital markets team: Ajay Sawhney, head of Asian leveraged finance, and Jon Pratt, head of Asia debt capital markets outside Japan and Australia.

Standard Chartered Bank today announced the appointment of Zubaid Ahmad as vice chairman, head of corporate finance, Americas, based in New York.

AIG Global Real Estate, a unit of American International Group (AIG), New York, is planning to divest its fund management business. This unit operates 15 existing fund programs with over $12.4 billion in assets under management and $5.2 billion in equity capital commitments as of Sept. 30.

Single-family existing home sales unexpectedly jumped 7% in December from November but prices continue to slide as nearly half of all sales involved foreclosed houses.

Freddie Mac may need to make a second draw on the U.S. Treasury Department line of credit — this time for $30 billion to $35 billion — to maintain a positive net worth as it closes its books on the fourth quarter, according to a securities filing by the company. "

NewOak Capital announced today the appointment of David Bigelow as managing director of marketing. The new appointee will be covering institutional clients such as pension funds, public funds, endowments, private equities, and financial institutions.

Deloitte & Touche released two new modules for CDO Suite — an asset administration, compliance and reporting system for a variety of portfolio structures such as hedge funds and CDOs — that will allow market participants to become either providers or consumers of syndicated loan data.