ABS

Ron D’Vari, CEO of NewOak Capital, proposed today that government guarantees of nonperforming mortgages be modified requiring borrowers’ giving up equity participation. The proposal, which is named Government Equity Modification (GEM), "is one of the most viable and timely answers to the current mortgage credit crisis,” according to D'Vari.

Markit and Creditex, together with 14 major credit derivative dealers, have determined a price to facilitate the settlement of credit derivative trades referencing the subordinated debt of Landsbanki Islands hf in Europe’s first ever Credit Event Auctions.

Freddie Mac will not be issuing a Reference REMIC security during the week of Nov. 17.

Schulte Roth & Zabel International hired Nick Terras as a partner in the investment management group.

CWCapital Investments (CWCI), a full service commercial real estate investment management company, launched a new risk management group, and has hired former Moody’s Investors Service CMBS head Tad Philipp as managing director of the group.

The Tygris Commercial Finance Group named Lawrence G. Hund as its chief financial officer. Hund will oversee all of Tygris’ treasury, accounting, tax, planning and analysis and financial operations.

U.S. Department of Housing and Urban Development (HUD) appointed Michael Flynn as HUD's acting general counsel. Flynn was formerly the general deputy general counsel to the Department.

The insurance-linked securitization (ILS) market is beginning to feel the credit pinch as malfunction in the financial markets touches every corner of

Moody's Investors Service said last week that the industrial property markets remain rather resilient in terms of supply/demand and vacancy rates, but the supply and demand volatility ratios indicate transition risk in some markets.

The U.K. government announced new rules that will better protect homeowners facing repossessions. This after a call from several U.K. charities highlighted that nationalized banks were aggressively and recently pursuing the option.

It seems the only busy sector of the structured finance market lately is litigation.

Government efforts to rescue the commercial paper market kicked into full gear last week, as two Federal Reserve-sponsored programs got a jump-start.

The October remittance reports - which represented the collection period for September - showed mixed results.

CMBS default rates have been low historically, but now market troubles are starting to ring through a sector that, previously, was relatively immune.

Even those familiar with the Argentine government's taste for theatrical populism were floored when President Cristina Fernandez announced two weeks ago that private pension funds would be nationalized.

The new issue ABS market remained virtually stagnant for yet another week, signaling that general economic conditions are only going to deteriorate further in weeks to come.

Mayor Michael Bloomberg welcomed the Securities Industry and Financial Markets Association's (SIFMA) annual meeting to New York last Tuesday, speaking at the conference's opening presentation.

Information Management Network Managing Director Scott Brody released a statement regarding a news item that appeared in the New York Post about United Capital Market's CEO John Devaney.

Deerfield Capital Corp. has withdrawn its asset management subsidiary, Deerfield Capital Management (DCM), from Fitch Ratings' CDO Asset Manager (CAM) rating program.

Manager Activity: AutosFull Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market