Securitization

Rep. Barney Frank, D-Mass., will announce today that he will not seek re-election next year, capping a 32-year career in Congress, a spokesman said Monday.

Moody’s Investors Service launched a private loan ratings service for issuers in the Europe, Middle East and Africa (EMEA) markets, the rating agency said today.

Protestors with Occupy Wall Street continue to target properties tied to CMBS transactions, a Trepp report said.

Only three months after Mexican GSE Fovissste issued its first cross-border RMBS, the lender's deals are facing ratings trouble.

The folks at law firm Dechert put out their annual golden turkey awards for dubious achievements in the commercial real estate market, a few of which are perfectly applicable to other areas of structured finance.

Korean Air Lines (KAL) securitized $300 million of its passenger ticket sales predominately on its North America routes.

Application volume fell by 1.2% on a seasonally adjusted basis for the week ended Nov. 18, as purchase apps were up to their highest level since August, but refinancings were down to their lowest point since July, according to the Mortgage Bankers Association.

Only one county in the country–Fairfield, Conn.–will have a higher conforming loan limit in 2012. The ceiling in the other 3,200-plus counties will remain unchanged.

While bigger competitors have been cutting back in leveraged finance amid a decline in trading volume and slack underwriting, KeyBanc Capital Markets, the debt capital markets group of Cleveland-based KeyBank, continues to build out.

Suncorp Metway is in the market with a A$750million ($725 million) Australian RMBS.

The Pennsylvania Higher Education Assistance Agency (PHEAA) has paid $12.3 million to settle tax-law violations and protect the tax-exempt status of its student loan bonds.

The delinquency rate for loans in U.S. CMBS dropped seven basis points in October to 9.29%, according to Moody's Investors Service's latest Delinquency Tracker (DQT).

A private investor is considering a plan to finance $250 million of debt from the professional ice hockey team the New Jersey Devils, according to a report in the New York Post.

Banks with more than $50 billion of assets must be "well prepared" to meet new international capital standards when they file capital plans next year, according to a final rule issued by the Federal Reserve Board on Tuesday.

Kroll Bond Rating Agency (KBRA) is seeking public comment on its auto loan ABS rating methodology. The report, which was released today, offers detailed insight into KBRA's rating methodology of prime and subprime U.S. auto loan ABS.

Situational volatility has led some potential issuers in the esoteric space to opt out of structured finance and seek financing elsewhere, market sources said.

Holliday Fenoglio Fowler (HFF) arranged a $120 million refinancing for nine full-service hotels on behalf of Investcorp. These loans will later be securitized in an adjustable rate deal.

U.S. District Judge Mariana R. Pfaelzer of the Central District of California yesterday certified a class action lawsuit in a case against Countrywide. The suit accuses the mortgage lender of deceptive practices in the sale of MBS.

Lennar Corp. is proposing to sell $300 million in debt, and possible uses of the proceeds include purchasing distressed portfolios of mortgage loans and foreclosed real estate.