Securitization

A revised plan to help underwater borrowers refinance into historically low interest rates is likely to boost competition among mortgage lenders and roughly double the number of people already helped by the government program, according to analysts and industry representatives.

Swiss Reinsurance Co. is in the market with its Series 2011-3 deal under its principal-at-risk, variable-note program Successor X Ltd.

Rep. Scott Garrett, a New Jersey Republican who chairs the House subcommittee with jurisdiction over Fannie Mae and Freddie Mac, plans to unveil a comprehensive bill to reform the secondary mortgage market on Thursday.

Ocwen Financial Corp. late Monday disclosed that it will buy Saxon Mortgage for almost $60 million in cash, a deal that will push its subprime servicing-related contracts to almost $110 billion.

Bank of America Corp. reshuffled top retail bank executives yet again this week, according to an internal memo obtained by ASR sister publication American Banker.

Moody's Investors Service's released its National CPPI index for August, which showed a 2.4% monthly rise in commercial real estate (CRE) prices.

MBS analysts have released their initial analysis on the impact of the changes to the Home Affordable Refinance Program (HARP) on MBS market.

Autos are dominating the ABS pipeline once again with deals from AmeriCredit Financial Services (now under GM Financial), Navistar Financial and Ford Motor Credit Co.

Capital One Financial Corp. is looking for another private-label credit card portfolio to buy, as it absorbs the U.S. card business of HSBC Bank USA and the Kohl's Corp. store card portfolio, CEO Richard Fairbank said on Thursday.

Banco Santander SA of Spain is squeezing some much-needed capital out of its U.S. operations with a deal to sell a minority stake in its Dallas auto lender to a private-equity consortium.

More homeowners will now be eligible to refinance their homes and tap historic low interest rates due to significant changes to a critical government program by the Federal Housing Finance Agency (FHFA).

The Federal Housing Finance Agency (FHFA) Monday morning unveiled long awaited changes to a White House refinancing program, waiving the LTV cap and certain origination fees on underwater Fannie Mae and Freddie Mac loans.

The bedrock of the U.S. mortgage market — the 30-year fixed-rate mortgage — may no longer have the same level of bipartisan support in Congress that it once did.

Residential delinquencies fell to 8.09% in September, a slight decline from the prior month but an almost 13% improvement from the same month a year ago, according to new "First Look" figures compiled by Lender Processing Services (LPS).

Guy Carpenter & Co. appointed Desmond Potter as managing director and head of GC Securities M&A Advisory – Europe, the Middle East and Africa (EMEA).

The Senate late Thursday approved an amendment to restore the $729,750 maximum loan limit on government-back mortgages for two more years.

The credit quality of CMBS loans appears to be slipping a bit, according to a Moody's Investors Service report Friday.

After a significant slow down following the economic turmoil in August, CLO issuance is poised to pick up again as the loan market stabilizes, sources said. Indeed, the pipeline has even continued to grow despite the fact that a number of deals stalled over the summer.

The backdrop of this week's mortgage activity continued to be about the European Union and refi.gov.